A sale might still be on the table for GrubHub.
The food delivery firm’s chief said he’s open to talks with potential buyers even though the company shot down recent reports that it was on the auction block.
“We would totally evaluate any offer, but we haven’t had one yet,” GrubHub CEO Matt Maloney said Thursday on CNBC’s “Mad Money,” adding that the company isn’t actively seeking bids.
GrubHub’s stock price jumped more than 17 percent two weeks ago after the Wall Street Journal reported it was exploring a potential sale along with other strategic options. The Chicago-based company has reportedly attracted some interest from four major grocers, including Walmart.
But GrubHub denied the rumors a day after the Journal’s story, leading its share price to fall more than 8 percent. Maloney said he thought reporters were “barking up the wrong tree.”
GrubHub has not received any offers for an acquisition, Maloney said, but he suggested that the food delivery industry will consolidate further this year. GrubHub and DoorDash are the biggest players, but they face competition from the likes of Uber Eats, Postmates and Google, which experts think could gobble up business from rivals.
“There’s a reckoning coming to the industry,” Maloney told CNBC.
Maloney’s comments came three days after Uber sold its food delivery business in India to local rival Zomato. The all-stock deal gave Uber a roughly 10 percent stake in Zomato as it works to keep growing its Indian ride-hailing business.