Uber’s offer for Postmates is ten percent higher than the company’s last rating from last September. The transaction will be executed in shares. Uber expects to issue about 84 million shares, which it will exchange for a 100 percent stake in Postmates. The transaction has already been approved by the boards of directors of both companies, and shareholders representing a majority in Postmates have then committed to supporting the transaction.
Postmates operate in 4,200 cities throughout the United States. Delivers food and other goods from restaurants and shops to customers’ doors. The company was founded in 2011 and is headquartered in San Francisco. In May, according to the analyst firm Second Measure, it had an 8% share of the US food supply market.
Uber comes up with a new acquisition just weeks after leaving the plan to take over Grubhub. Grubhub bought Just Eat Takeaway.com $ 7.3 billion (over $ 171 billion) in June.
Uber also operates in the Czech Republic. However, its division specializing in food delivery Uber Eats terminated its services in the Czech Republic last month because it did not reach the planned market share.