Grubhub’s sale of Just Eat Takeaway has been disrupted as leaders prepare for a £ 1bn drop in US business in what could become one of the most disastrous bids in the US. technology sector.
Bank of America bankers are tasked with finding a buyer or strategic partner for the US food delivery operator, which Just Eat Takeaway bought for $ 7.3 billion (£ 5.8 billion) less of a year.
However, sources said that Grubhub was offered to potential bidders in a fraction of this amid a global sale of technology stocks, and may not find any buyers.
It is the latest crisis for the takeaway giant, who has suspended a senior executive and is looking for a new president.
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