Just Eat Takeaway.com is considering selling Grubhub

Europe’s major food delivery company Just Eat Takeaway.com is planning to sell its U.S. arm Grubhub. The investors of Just Eat Takeaway.com are pressurizing the food delivery company to discover some strategic deals. Just Eat Takeaway’s Board informed that the company has highly attractive assets, and they want to realize and create value for its shareholders. The management of the company, along with the advisers, is exploring the possibility of finding a strategic partner for a partial or total sale of Grubhub. However, Just Eat Takeaway.com stated that it could not guarantee the sale or the timeline. They also informed that the announcement would be made soon. Some prominent stakeholders have growingly expressed their willingness to divest the Grubhub division. 

Just Eat Takeaway.com  acquired Grubhub for food ordering just about a year ago for an amount of $7.3 billion, beating other rivals like Uber and Delivery Hero. Car Rock Capital is an activist investor in Europe’s food delivery giant and called out to sell Grubhub and refocus on the European business in October. Cat Rock owns about a 6.5% stake in the company. Cat Rock's managing partner and founder, Alex Captain, told that Just Eat Takeaway.com’s share price has significantly declined and this has eventually left the company vulnerable to takeover bids that would be far below its intrinsic value.