Just Eat Takeaway meal delivery company can take its first step in the United States, where the company has so far had no presence, with an acquisition of the American industry partner Grubhub.
News channel CNBC reported on Friday based on insiders that the Dutch-British company has expressed its interest among the Americans. The German Delivery Hero would also like to take over Grubhub. Tech company Uber Technologies, best known for the taxi app but also for delivery company Uber Eats, would have previously reported.
ING says an acquisition of Grubhub would be the best way for Just Eat Takeaway to enter the US market, although that market is highly competitive. The bank further states that the integration of the British Just Eat and the Dutch Takeaway has only just begun, which would raise questions about whether the company is ready for the next big deal. Management should therefore explain well why the move in the US should be made and why it is now the best time, ING said.
The advice is on buy and the target price is 110 euros. Just Eat Takeaway shares recorded a minus of 3.3 percent at 95.78 euros on Monday around 10:25 a.m.