Wires

Grubhub considers strategic options, including possible sale - WSJ

Jan 8 (Reuters) - Online food delivery company GrubHub Inc is considering strategic options that include a possible sale or an acquisition, the Wall Street Journal reported https://www.wsj.com/articles/grubhub-considers-strategic-options-including-possi b l e - s a l e - 1 1 5 7 8 5 0 5 8 3 2 ? m o d = s e a r c h r e s u l t s & p a g e = 1 & p o s = 1 on Wednesday, citing people familiar with the matter.

GrubHub has tapped financial advisers to help with the review, according to the report.

The food-delivery industry faces intensifying competition from Uber Technologies Incs UberEats, which has grown into a national competitor, and startups such as DoorDash and Postmates.

GrubHub's shares were up 12.9% at $54.89 in afternoon trade. They lost 37% in 2019, dragged lower by weak sales and an outlook cut in October.

Grubhub said it does not comment on market rumors or speculation, in response to a Reuters' request for comment. (Reporting by Ambhini Aishwarya in Bengaluru; Editing by Aditya Soni)