- Just Eat said it would acquire Grubhub in a $7.3bn deal as the food delivery company looked to bolster its presence in the US.

'Success in the U.S. depends on deploying the right mix of logistics and marketplace region-by-region, a balance Grubhub has achieved with profitable leading positions in key U.S,' Just East saod.

Under the terms of the deal, Just Eat would acquire Grubhub at an implied value of $75.15 per share.

The deal was expected to close in the first quarter of 2021. The combined company would be headquartered in Amsterdam, with its US headquarters in Chicago.

Just Eat also provided a trading update, with growth in April and May, up 41%.

At 8:03am: [LON:JET] Just Eat Takeaway.Com N.V. share price was -144p at 7482p

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