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Just Eat Takeaway.com NV's Grubhub unit has received bid interest from private equity firm Apollo Global Management Inc, Bloomberg reported late Thursday.
Citing people familiar with the matter, Bloomberg said the New York-based private equity company has displayed preliminary interest in buying the US food delivery provider.
However, Just Eat Takeaway may struggle to sell the unit for a price close to the $7.3 billion it paid in June of last year. Bloomberg reported some suitors are only considering offers around $1 billion.
Despite the suggestion of a knockdown sale, Just Eat Takeaway shares were up 7.5% in response to 1,866.80 pence each in London on Friday afternoon.
https://www.bloomberg.com/news/articles/2022-06-09/buyout-firm-apollo-is-said-to-study-just-eat-s-grubhub-unit?srnd=deals
Just Eat Takeaway in April had said it was exploring a partial or full sale of Grubhub, which it had agreed to purchase in June 2020. The deal was completed a year later.
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