Posted on 05/13/2020 1:11:28 AM PDT by nickcarraway
Uber ( UBER) has rejected an all-stock proposal to buy food delivery company Grubhub ( GRUB) for 2.15 Uber shares per share of Grubhub, reports CNBC’s David Faber.
According to Faber, the two companies have been in discussions about a deal for about a year, but have so far failed to agree on a price.
SNIP
According to Bloomberg, an agreement could be reached as early as this month. The news sent Grubhub shares surging 38%, before closing Tuesday’s trading 29% higher.
(Excerpt) Read more at finance.yahoo.com ...
I thought Uber was tanking, where’s the money coming from?
I thought Uber was tanking, where’s the money coming from?
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It’s not legal tender involved; it’s pieces of paper (stock).
Maybe SNL was right about something for once.
Yeah I get that. My comment was more sarcasm. If we had an FTC that did it’s job Uber would be enjoined from proffering a take over offer while laying off 15% of their workforce and having their stock tank.
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