Grubhub denies it’s for sale, stock drops 6% after hours.
Daniel Acker | Bloomberg | Getty Imagessaid on Thursday there is no sale process, denying reports that it is considering strategic options that include a possible sale or an acquisition.
"We felt it was important to clarify that there is unequivocally no process in place to sell the company and there are currently no plans to do so," a Grubhub spokesperson said in a statement.Full statement from Grubhub below: While our policy is not to comment on rumors, given the considerable media speculation that appeared yesterday, we felt it was important to clarify that there is unequivocally no process in place to sell the company and there are currently no plans to do so. We have always consulted advisors about a broad range of issues, including potential acquisition opportunities -- that has not changed.
In fact, we believe that given the current pressure on profits across our public and private competition, there will likely be strategic opportunities to acquire share this year -- given that our profitability is secure. However, as we have said previously, we are very excited about our near- and long-term opportunities and are confident in our organic growth strategy and our execution without M&A.
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