Uber talks on Deliveroo merger Just Eat's shares

Deliveroo

Deliveroo

Deliveroo is a popular app that sends couriers on pedal bike, motorbike or auto to pick up food from restaurants that would not ordinarily offer delivery service.

Uber chief executive Dara Khosrowshahi has reportedly made the company's food delivery arm a priority ahead of a planned initial public offering in the second half of next year.

The Uber Eats service is available in locations right across the world - operating in Europe, North America, South America, Asia, Australia & New Zealand, and Africa.

Any offer would need to be considerably above its latest valuation, according to people with direct knowledge of Deliveroo's plans.

Uber, based in San Fransisco, is also expecting to go public in late 2019, and according to Bloomberg is making its food delivery business a priority ahead of the opening, after selling off many of its ride-hailing enterprises in Southeast Asia, China, and Russian Federation.

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Speaking from inside an airplane hangar, Trump told emergency workers, "The job you've done has been incredible". Over 60,000 customers were without power in North Carolina early on Friday, according to Poweroutage.us.

The two firms have been jostling for first place in the food delivery market since 2014, thanks to the inception of Uber Eats. Plus, the talks could end abruptly because Shu and Orlowski are not keen on letting go of their professional independence.

Liberum Capital and Peel Hunt both reaffirmed Just Eat as a "buy" today, without specifying a price target on the shares.

A merger would lead to a "war for market share" that would be "very damaging" to Just Eat's profits, analysts at Canaccord Genuity said.

"They say strength in numbers can be a powerful force and so it is no surprise that Just Eat's shares have taken a big hit on speculation that Uber is going to buy Deliveroo", said Russ Mould, Investment Director, AJ Bell to Guardian.

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