Just Eat Takeaway in advanced talks to buy Grubhub

(Reuters) – European food ordering firm Just Eat Takeaway.com NV said on Wednesday it was in advanced talks to buy Grubhub Inc in an all-stock deal.

Grubhub was also approached by ride-hailing firm Uber Technologies Inc in May for an all-stock deal.

Uber, however, is now close to exiting the deal, CNBC reported on Wednesday.

Uber did not immediately respond to a request for comment.

Experts say consolidation is long overdue in the food-delivery space, where demand is surging, especially as many people stay-at-home to combat the spread of the novel coronavirus.

(Reporting by Greg Roumeliotis in New York, Akanksha Rana in Bengaluru and Toby Sterling; Editing by Ramakrishnan M.)