Grubhub's Stock Could Still Soar Higher Before It Gets Acquired

Four months ago, Grubhub (NYSE: GRUB) agreed to an all-stock merger with its European peer Just Eat Takeaway (OTC: TKAY.Y), which had recently been formed by a merger between two other food delivery platforms, Just Eat in the U.K. and Takeaway in the Netherlands. At the time, I noted the merger could solve Grubhub's biggest problems: its dependence on the saturated U.S. market, its decelerating growth, and its rising expenses. Grubhub's stock has rallied over 40% since the deal was announced, and I believe it still has room to run before Just Eat Takeaway closes the deal.