Just Eat Takeaway shares rally after putting Grubhub on the block

Just Eat Takeaway.com rallied 7% in midday Amsterdam trade as the company put its Grubhub unit on the block, a year after buying the company for $7.3 billion. “The Management Board confirms its alignment with shareholders in wanting to both create and realise value from the Company’s highly attractive portfolio of assets. As such, management is currently, together with its advisers, actively exploring the introduction of a strategic partner into and/or the partial or full sale of Grubhub,” the company said, alongside a trading update showing a 1% decline in orders during the first quarter, including a 5% drop in North America. Just Eat Takeaway says it expects positive adjusted EBITDA in 2023.

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