The combination of the two firms would create a delivery platform worth around US$11 billion capable of competing against Britain-based Deliveroo and Uber Eats of the United States with a strong presence in Britain, Canada, Germany and the Netherlands.'POWERING AHEAD'
The takeover, which is worth the equivalent of €24 billion and marks a major switch in strategy under LSE CEO David Schwimmer, sent shares briefly spiking to a record."The FTSE is powering ahead ... on merger and takeover news, shrugging off a weak session in Asia where the start of Sino-US trade talks in Shanghai dominated trading sentiment," said City Index analyst Fiona Cincotta.
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