Consolidation in the world of on-demand food ordering and delivery continues apace, a move that is creating the world's largest online food-delivery company outside of China in terms of revenue. Europe's Just Eat Takeaway.com has agreed to buy Grubhub in an all-stock transaction worth about USD 7.3 billion. The deal values Grubhub's shares at USD 75.15 apiece, a 27% premium to their Wednesday close.

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