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Uber now expects acquisition of Postmates to close this quarter with Department of Justice clearing the way

November 10, 2020

Uber Technologies Inc. (NYSE: UBER) reported today the Antitrust Division of the US Department of Justice granted an early termination of the Hart-Scott-Rodino antitrust waiting period for Uber’s acquisition of Postmates Inc., according to a filing with the US Securities and Exchange Commission. The deal is now expected to close in this quarter, subject to approval of Postmates shareholders and other customary closing conditions.

SIA ranks Uber as the largest B2C-focused human cloud platform while Postmates ranks as the 17th-largest. Uber had announced plans in July to acquire Postmates for $2.65 billion in an all-stock transaction; at the time, plans called for the deal to close in the first quarter of 2021.

Uber had on Friday sent a letter to the Department of Justice stating that it will waive exclusivity provisions between Postmates and approximately 800 restaurants in certain geographic areas across the US and, for a period of six months after closing, Uber will not enter into exclusivity agreements with those restaurants.