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Viewsroom

Viewsroom: Global takeaway and Cathay

Viewsroom

Reuters

News

4.4 • 58 Ratings

🗓️ 11 June 2020

⏱️ 33 minutes

🧾️ Download transcript

Summary

Nothing sums up pandemic dealmaking quite like this: As a merger of America’s top shopping mall operators crashed and burned, two of the world’s biggest food-delivery companies joined forces. Also, Cathay gets a bailout and so might the Mets. Breakingviews columnists discuss. See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Hear that? It's your big McDonald's hunger calling, because the Big Arch is back, and this time it's here to stay with juicy beef, cheddar cheese and that Big Arch sauce.

0:09.9

Hungry, you are now.

0:11.6

Order delivery on the McDonald's app.

0:15.0

Serve from 11am, upcharges and fees apply to delivery orders.

0:17.9

Subjects availability, price and participation may vary.

0:19.9

The views expressed on this podcast are those of the participants, not of Roiders' News.

0:30.2

Welcome to the Views Room, a weekly podcast brought to you by Reuters Breaking Views.

0:34.4

I'm Rob Cox, the editor of Breaking Views, coming to you from my home in the wilds of Connecticut,

0:38.6

having flown back from Zurich a week ago. I am happily joined by Jen Saba and Anna Szymanski in New

0:44.8

Jersey and Brooklyn. We have the perfect tri-state Trinity here, don't we? New York, New Jersey,

0:50.3

and Connecticut. You're back? You're back in the Trice? I am, I am. Well, look, I thought we discussed a few stories that you guys worked on this week that I think kind of sum up the state of corporate deal making in the age of COVID-19. After that, we'll hand over the podcast to Jeff Goldfarb, our Asia editor to chew over the bail out of Hong Kong's de facto national carrier, Cathay Pacific.

1:11.4

But first, Jen, let's talk a bit of, let's talk takeout. You wrote a piece on Wednesday

1:17.8

about Grubhub, the U.S. takeout company or delivery, food delivery company, green to be acquired

1:24.1

by just eat takeaway.com. Kind of a mouthful, that name. Yeah. And it's a $7.3 billion deal,

1:32.3

which is interesting in lots of ways. I mean, it's sort of a perfect encapsulation of the,

1:36.2

of a COVID-19 type deal, but it's also, I mean, it's relatively large. You've got cross-border,

1:42.4

haven't seen a whole lot of it. It says something, I'm sure sure about antitrust and also tells us about their competitors. Why don't you unpack the big takeaway deal? What's our takeaway? Yeah, there's a lot going on. So just to kind of set the stage here, Grubhub, which is, you know, a huge food delivery service here in the United States,

2:02.9

they had been reportedly in talks to merge with Uber, and this was back in May. And the rationale

2:09.8

would be Uber eats needs some help. They need to boost their business. This would, this would be

2:16.7

a complementary fit with them.

2:18.3

And so they were kind of trying to hash you those terms.

2:22.3

However, there was a huge, huge regulatory overhang

...

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