Uber to acquire Postmates in $2.65B deal: Report
An official announcement expected Monday
The week begins with a $2.65 billion deal in the food delivery business.
Uber Technologies is buying Postmates in an all-stock deal, according to Bloomberg.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Uber's board of directors has reportedly approved the acquisition, with an official announcement expected Monday.
Uber had previously tried to acquire GrubHub Inc., but was beaten out by Europe’s Just Eat Takeaway for $7.3 billion.
POSTMATES PLANNING IPO FILING FOR NEXT WEEK
Representatives for Uber and Postmates declined to comment to Bloomberg.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| UBER | UBER TECHNOLOGIES INC. | 71.96 | +0.34 | +0.47% |
DoorDash is the market leader in U.S. food delivery.
CLICK HERE TO READ MORE ON FOX BUSINESS
FOX Business reported last week that, while fielding offers, Postmates was also planning to file paperwork for an initial public offering.