REUTERS: Grubhub Inc has received takeover interest from at least two European companies, Delivery Hero SE and Just Eat Takeaway.com NV , CNBC reported on Friday, citing people familiar with the matter.
Shares of Grubhub, which was also approached by ride-hailing firm Uber Technologies Inc in May for an all-stock deal, rose about 5per cent after the news.
Experts say consolidation is long overdue in the food-delivery space, where demand is surging, especially now with many stuck at home due to lockdowns, while others are afraid to venture out as the COVID-19 pandemic continues to rage.
Netherlands-based Just Eat Takeaway.com is working with Bank of America as an adviser, the report added.
Grubhub did not immediately respond to Reuters' request for comment, while Just Eat Takeaway.com declined to comment.
While Delivery Hero also declined to comment on the report, it said it has been regularly looking at potential transactions to "evaluate new opportunities".
(Reporting by Ayanti Bera in Bengaluru; Editing by Ramakrishnan M. and Shinjini Ganguli)
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