Uber to Waive Exclusivity Provisions Between Postmates and About 800 Restaurants
10 November 2020 - 4:29PM
Dow Jones News
By Dave Sebastian
Uber Technologies Inc. said Tuesday it told the Justice
Department it will waive exclusivity provisions between Postmates
Inc. and about 800 restaurants in the U.S. for six months after
Uber's acquisition closes, and won't enter into exclusivity
agreements with those restaurants.
Uber in July said it would buy the food-delivery company for
$2.65 billion in stock, an acquisition that will help it better
compete in restaurant delivery and the market for delivering
groceries and other staples.
Uber said it expects the deal to close by the end of the year.
The company said the DOJ granted an early termination for a
transaction-closing waiting period.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
November 10, 2020 10:14 ET (15:14 GMT)
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