The news: Wonder Group is buying Grubhub from Amsterdam-based Just Eat Takeaway.com for roughly $650 million. The company will pay $142 million in cash and take on $500 million of Grubhub's debt. The transaction is expected to close in Q1 2025.

• That price tag is roughly 90% less than Just Eat paid in June 2021 at the height of the pandemic to grab a foothold in the US food delivery market.
• But that earlier deal quickly went sideways: In response to investor pressure after its orders declined, Just Eat said in April 2022 that it was considering selling the Chicago-based delivery service.