(Reuters) – Uber Technologies Inc (UBER.N) is in advanced talks to buy online food delivery company GrubHub Inc (GRUB.N) in an all-stock deal, according to a person familiar with the matter.
FILE PHOTO: The Uber logo is displayed on a mobile phone in this picture illustration taken November 25, 2019. REUTERS/Hannah McKay/Illustration
The two companies could reach an agreement as soon as this month, Bloomberg News reported earlier on Tuesday, citing people familiar with the matter. (bloom.bg/2LoVtoS)
Shares of GrubHub jumped about 29% to $60.50, while those of Uber rose 6%.
GrubHub had a