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Grubhub Sold for $650 Million

Just Eat Takeaway sells Grubhub to Wonder for $650 million, significantly less than its pandemic peak valuation.

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Greek

Greece

European UnionFinanceMarketAcquisitionSaleCompany

Just Eat TakeawayGrubhubWonderWalmartJp Morgan

Marc LoreJitse GroenClement Genelot

What is the main news reported in the article?: Just Eat Takeaway, Europe's largest food delivery company, has agreed to sell its American online ordering platform Grubhub to Wonder for $650 million.
What are the different perspectives of analysts on this deal?: Analysts have varied opinions on the deal, with some viewing it positively despite the low valuation, while others highlight the significant losses incurred by Just Eat Takeaway on its US venture.
What is the structure of the payment for Grubhub's acquisition?: The sale price includes $500 million in senior secured notes and $150 million in cash, with Just Eat Takeaway anticipating net proceeds of up to $50 million. The transaction is expected to close in the first quarter of 2025.
How does the sale price of Grubhub compare to its previous valuation?: The deal values Grubhub at significantly less than its peak valuation during the pandemic, reflecting a decline in demand and challenges such as slower growth and regulatory hurdles.
What were some challenges mentioned regarding Just Eat Takeaway's operations in the US?: Just Eat Takeaway's CEO, Jitse Groen, had previously mentioned the challenging M&A environment in the US, including fee caps costing the group around $100 million annually.

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