GrubHub Stock Soars 13% Amid News Of Possible Sale

hired financial advisers to explore strategic options. The company is in early stages of discussions that could include a potential sale or even an acquisition.

The company has struggled amid increased competition in the food-delivery space from the likes of Uber Eats, DoorDash and Postmates, which has caused its shares to decline steeply from 2018 highs. dramatically from its high of more than $13 billion over a year ago. If GrubHub does pursue a deal, it could end up merging with one of its big rivals in order to survive in a food-delivery industry that has become saturated with competition from newcomers trying to attract customers with discounts and promotions.

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