Startup led by ex-Walmart executive nears deal to buy Grubhub, WSJ reports

(Reuters) -Wonder, a food-delivery startup led by former Walmart (NYSE:WMT ) executive Marc Lore, is in advanced talks to buy Grubhub from Amsterdam-based Just Eat Takeaway.com, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.

The European company had acquired Grubhub in 2020 in an all-stock deal for $7.8 billion, creating the world's largest food delivery company outside China at the time.

A deal for Grubhub could be finalized imminently, assuming the talks do not fall apart, the report said, adding that Grubhub is likely to be valued below $1 billion in any deal.



Buying Grubhub could lift Wonder's revenue and offer a direct source delivery drivers and related technology, the report said.

Grubhub, Just Eat Takeaway and Wonder did not immediately respond to Reuters requests for comment.

 

Source: Investing.com