Shares of Grubhub surged 12.5% on Wednesday after The Wall Street Journal reported that the company has hired financial advisors to explore strategic options, including a possible sale.
At $54 per share, Grubhub’s stock is closing in on the price it traded at before its disappointing third-quarter earnings report in October.
In addition to a possible sale, Grubhub is also weighing the possibility of an acquisition and has discussed strategies for fending off activists, according to the Journal. The review is still at an early stage, and it’s possible that it won’t lead to any strategic moves.
Full Content: CNBC
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