Grubhub (GRUB) to be acquired by Just Eat Takeaway.com for $75.15/share in all-stock deal

 

 

Cos have entered into a definitive agreement whereby the Company is to acquire 100% of the shares of Grubhub in an all-stock transaction to create the world's largest online food delivery company outside of China, measured by Gross Merchandise Value and revenues.

Under the terms of the Transaction, Grubhub shareholders will be entitled to receive American depositary receipts representing 0.6710 Just Eat Takeaway.com ordinary shares in exchange for each Grubhub share, representing an implied value of $75.15 for each Grubhub share (based on the undisturbed closing price of Just Eat Takeaway.com on 9 June 2020 of 98.602 ) and implying a total equity consideration (on a fully diluted basis) of $7.3 billion.

Immediately following completion of the Transaction, Grubhub shareholders are expected to own ADRs representing approximately 30.0% of the Combined Group (on a fully diluted basis).