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        <title><![CDATA[Grubhub shares soar on reports of Uber acquisition talks]]></title>
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        <lastBuildDate>Tue, 12 May 2020 16:37:36 +0000</lastBuildDate>
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            <media:title type="html">Grubhub shares soar on reports of Uber acquisition talks</media:title>
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        <content:encoded><![CDATA[<p>Uber is reportedly in talks to acquire food delivery giant Grubhub.</p><p>The ride-hail company is looking to buy Grubhub at a time when it has seen its Uber Eats delivery platform surge in popularity during the coronavirus pandemic, according to the <strong>Wall Street Journal</strong>.</p><p>Reports of the talks sent Grubhub shares spiking more than 25 percent Tuesday morning, while shares of Uber climbed 7 percent.</p><p>Grubhub&#8217;s market cap is currently $4.3 billion, while Uber was worth nearly $55 billion at Monday&#8217;s close.</p><p>The companies could reach an agreement as soon as this month, with the Journal reporting that Uber has proposed an all-stock deal.</p><p>Uber said it does not comment on rumors and speculations, while Grubhub declined to comment.</p><p>Uber’s revenue from restaurant food deliveries rose by more than 50 percent year-over-year to $819 million in the recently reported first quarter.</p><p>The Post <strong>recently reported</strong> that Uber has seen Eats usage surge in the outer boroughs as New Yorkers are locked indoors.</p><p><em>With Post wires.</em></p>]]></content:encoded>
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