Grubhub shares skyrocket as Uber Eats deal could be usurped by Just Eat

Grubhub has seen its share prices skyrocket after reports emerged that Just Eat and Delivery Hero are both interested in exploring a takeover deal.

Uber Eats last month reportedly tabled a takeover deal for Grubhub in a move which would see the combines entity become the largest food delivery company in the US.

This marked the latest in a swathe of acquisitions and consolidations in the industry, with completing its takeover of and Amazon entering a tie-up with Deliveroo in the few weeks.

READ MORE: Coronavirus and consolidation: How the online delivery market has transformed during the pandemic

Despite reports emerging that Uber Eats could finalise a deal with Grubhub imminently, CNBC reported that Just Eat and Delivery Hero are both also interested in exploring a tie-up.

This send Grubhub’s shares jumping seven per cent over the weekend, marking a 29.3 per cent boost since this time last month.

It is understood that while all three companies are interested in exploring a deal, Uber Eats is still in more advanced talks making it a potential front runner.

This potential deal has already come under scrutiny from US officials, who have raised concerns about the fees these companies charge restaurants and how they treat their drivers.

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