18.05.2020 UBER Daily Analysis

18.05.2020 UBER Daily Analysis

U.S. Senator Amy Klobuchar on Sunday blasted merger talks between ride-hailing firm Uber Technologies Inc (N:UBER) and online food delivery company Grubhub Inc (N:GRUB), calling any deal bad for competition and consumers. The two companies have discussed an all-stock combination, Reuters reported earlier this month. A merger would give Uber Eats' money-losing food delivery service a leg up on market leader DoorDash at a time when the coronavirus pandemic has upended Uber's business of shuttling people from place to place. Grubhub had a market capitalization of about $5.1 billion, while Uber was valued at $56.3 billion as of Friday's close, according to Refinitiv data. Grubhub shares are up more than 17% since news of the talks broke. Uber Technologies Inc (UBER) is down by -0.98%, or by -$0.32, trading at $32.47.