Why GrubHub's Stock Is Trading Higher Today

GrubHub GRUB shares are trading higher after Just Eat Takeaway announced it will acquire the company in an all-stock merger.

Uber UBER was previously in talks with GrubHub in an effort to enhance the company’s Uber Eats segment. Talks fell through, and now the deal with Just Eat Takeaway will happen at $75.15 per share in stock.

Founded in 2004, Grubhub provides an online takeout food platform for consumers, or diners, and restaurants. The firm generates revenue by charging restaurants a commission based on each order amount and by charging consumers a delivery fee for orders where the firm handles the delivery.

GrubHub shares were trading 4.65% higher at $61.80 at time of publication on Thursday. The stock has a 52-week high of $80.25 and a 52-week low of $29.35.