News Formal

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

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 51%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

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.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 729. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

GOING VIRTUAL: Here's how internships will work this summer at top Wall Street banks - Business InsiderBanks like Goldman Sachs and Morgan Stanley will host interns virtually. Citi has guaranteed interns full-time offers upon completion of its program.
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »