Uber approaches GrubHub with takeover offer: Bloomberg News

The two companies are currently in talks about a deal and could reach an agreement as soon as this month, the report said, citing people familiar with the matter. Shares of GrubHub jumped about 25per cent at US$58.44, while those of Uber were up 4per cent.

GrubHub's market capitalization stood at about US$4.3 billion, while Uber was valued at nearly US$55 billion, as per Monday's close, according to Refinitiv data.Ride-hailing company Uber said it does not comment on rumors and speculations, while GrubHub declined to comment.

Uber's revenue from restaurant food deliveries rose by more than 50per cent to US$819 million on a yearly basis in the recently reported first quarter.

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