Market Updates
Amazon Includes Grubhub to Prime Membership With Warrant Deal
Scott Peters
06 Jul, 2022
New York City
Amazon.com, Inc declined 0.7% to $112.84 after the company added one year free delivery from Grubhub.com for its prime members.
Just Eat Takeaway.com, the parent of Grubhub, offered warrants totaling up to a 15% stake in the U.S. based Grubhub when fully exercised by Amazon.
The vesting of warrants is subject to the satisfaction of certain performance conditions, principally the number of new consumers delivered through the commercial agreement.
In certain circumstances the warrants can vest on an accelerated basis, in full or in part and may be be settled in cash or company shares, the press release noted.
Separately, the U.K. antitrust regulator is investigating the retailer if the company is offering an unfair advantage to its own sellers over third-party sellers.
The U.K. based Just Eat is actively looking to sell its U.S. food delivery unit Grubhub after the post-pandemic weakening of sales growth at the company.
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