(Reuters) - Online food delivery company GrubHub Inc GRUB.N is considering strategic options that include a possible sale or an acquisition, the Wall Street Journal reported here 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 Inc’s UBER.N 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 rumours or speculation, in response to a Reuters’ request for comment.
Reporting by Ambhini Aishwarya in Bengaluru; Editing by Aditya Soni
Our Standards: The Thomson Reuters Trust Principles.