Just Eat Takeaway’s sale of Grubhub has been thrown into disarray as bosses prepare for a multibillion-pound writedown on the US business in what could go down as one of the tech sector’s most disastrous deals.
Bankers from Bank of America have the task of finding a buyer or strategic partner for the American food delivery operator, which Just Eat Takeaway bought for $7.3 billion (£5.8 billion) less than a year ago.
However, sources said Grubhub was being offered to potential bidders at a fraction of that amid a global tech stock sell-off — and it may not find a buyer at all.
It is the latest crisis for the takeaway giant, which has suspended a senior executive and is seeking a new chairman.
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