Uber Eyes Grubhub Acquisition
May 13, 2020
Uber has bid to buy food delivery company Grubhub. The offer is an all-stock deal that would offer Grubhub shareholders 2.15 Uber shares for each Grubhub share. No deal has been closed yet because the sale price was rejected by Grubhub.
To raise cash, Uber has proposed to
offer $750 million principal amount of Senior Notes due 2025 (the
“notes”), subject to market conditions and other factors. The notes are
being offered only to persons reasonably believed to be qualified
institutional buyers pursuant to Rule 144A under the Securities Act of
1933, as amended (the “Securities Act”) and to non-U.S. persons in
accordance with Regulation S under the Securities Act.