Why GrubHub's Stock Is Trading Higher Today

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

Uber (NASDAQ: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.