Just Eat Takeaway.com NV’s US unit Grubhub is attracting preliminary interest from private equity firms including Apollo Global Management Inc., according to people with knowledge of the matter.
New York-based Apollo is among possible suitors evaluating the business, the people said, asking not to be identified because the information is private. Just Eat Takeaway may struggle to get a price near the $7.3 billion it paid for Grubhub last year, with some suitors considering offers close to $1 billion, the people said.
Amsterdam-based Just Eat Takeaway has seen its shares sink 74% in the past year, amid a slowdown in growth and broader plunge in the value of technology stocks due to rising interest rates and concerns over an economic slowdown. The company also faces internal turmoil after it launched an investigation into its chief operating officer’s personal conduct and its chairman stepped down last month.
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