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Wall Street loves idea of Uber Grubhub merger, warns it won't be easy - Business Insider

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Wall Street loves the idea of Uber buying its competitor Grubhub, but analysts warn getting the deal done amid a pandemic won't be easy

The potential deal would create a delivery megalith with market share well over 50% in major cities, but also represents a "new low in pandemic profiteering," as David Cicilline, a Republican congressman and head of the House Antitrust Subcommittee, put it.

"We believe a combination of UBER/GRUB during this pandemic would receive even closer regulatory review/scrutiny than usual," Tom White , an analyst at D.A. Davidson, said in a note to clients, "given the impact any deal could have on a restaurant industry that is struggling to survive in the face of the pandemic.

He estimates Uber's US market share to be about 28%, with GrubHub at 26%. More importantly, buying GrubHub could help Uber find dominance in major cities like Chicago, Boston, and Philadelphia.

 

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