National

Pro Rata

Axios Pro Rata

Food delivery stalwart Grubhub received a takeover offer from Uber, a primary competitor in the space, Bloomberg reports. Grubhub's shares spiked 25% on the news.

Why it matters: Consolidation has been widely anticipated in the restaurant meal delivery space, which has seen increased demand amid the coronavirus pandemic, as companies like Uber and DoorDash have been hemorrhaging money in a race for market share.

Update: The Wall Street Journal reports that the offer is all-stock.

Go deeper: GrubHub sees Q1 revenue growth but increased losses

Uber reportedly offers to buy GrubHub

Delivery robots getting ready to deliver junk food

Business

Food delivery

Food delivery stalwart Grubhub received a takeover offer from Uber, a primary competitor in the space, <a class="gtmContentClick" data-vars-link-text="Bloomberg reports" data-vars-click-url="https://www.bloomberg.com/news/articles/2020-05-12/uber-approaches-grubhub-with-takeover-offer?sref=vuYGislZ" data-vars-content-id="3672c3be-bc90-47a7-a343-ea247d9f2c18" data-vars-headline="Uber reportedly offers to buy GrubHub" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.bloomberg.com/news/articles/2020-05-12/uber-approaches-grubhub-with-takeover-offer?sref=vuYGislZ" target="_blank">Bloomberg reports</a>. Grubhub&#x27;s shares spiked 25% on the news.Why it matters: Consolidation has been widely anticipated in the restaurant meal delivery space, which has seen increased demand amid the coronavirus pandemic, as companies like Uber and DoorDash have been hemorrhaging money in a race for market share.

After a record economic expansion, the coronavirus pandemic sent the U.S. economy into a recession as unemployment soared to staggering heights. The country now faces urgent questions about how much stimulus is needed for reeling consumers and businesses, and what a recovery might look like.