Uber Eats has massive competition after 2 rivals agreed a $10 billion deal to become one of the world's biggest food delivery companies

Uber Eats, Uber's food delivery arm, has major competition in Europe after two massive rivals agreed to a £8.2 billion merger.

International players and local players like Deliveroo are duking it out to win food delivery, which is worth $35 billion, according to UBS. London-listed Just Eat shareholders will receive 0.09744 Takeaway.com shares for each share, implying a value of 731 pence per Just Eat share, a 15% premium to their closing price on Friday, the two companies said on Monday.

Takeaway completed the €930 million takeover of the German activities of Delivery Hero this year, settling a costly battle for supremacy in the German food delivery market. " means the opportunity revolves around leveraging technology spend and administrative costs, in our view, and the sharing of best practice" they said."This is presumably not insignificant, but less attractive than if they overlapped."

Whatever shall this already well established tech company do!?

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Source: WSJ - 🏆 98. / 63 Read more »