How Uber first hailed a deal with Grubhub only to let it pass

Uber Technologies Inc CEO Dara Khosrowshahi has spent much of his career deftly negotiating acquisitions. Yet his $6.5 billion all-stock bid for Grubhub Inc ended with the food delivery company being acquired by European rival Just Eat NV.

A former Allen & Co-investment banker, Khosrowshahi courted Grubhub for more than a year and agreed on a price in principle last month for an acquisition that would have boosted its Uber Eats division and given it an edge over rival Doordash, according to people familiar with the discussions.

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