Shares of the European food delivery company Just Eat Takeaway.com rose by 54 percent on Monday. This occurred after the announcement that the company plans to acquire the American company Grubhub for $7.3 billion.
Just Eat Takeaway.com already has a presence in several European countries, as well as in Canada and Australia. The acquisition of Grubhub will allow the company to expand its operations in the American market and compete with giants like Uber Eats and DoorDash.
"We are very pleased to combine with Grubhub to become a leader in online food ordering in North America," said the CEO of Just Eat Takeaway.com. "We see enormous potential in the American market and are confident that this acquisition will provide us with greater opportunities for growth."
This acquisition is expected to be completed in the fourth quarter of 2020 and will be one of the largest deals in the online food ordering industry.
