Uber has reportedly offered to buy GrubHub (UBER, GRUB)

Bloomberg News reports Uber made an offer to buy GrubHub.
No details of a potential deal were reported, but shares of GrubHub spiked more than 30%.
Uber has relied on Uber Eats to make up for severe losses in its main ride-hailing business amid the coronavirus.
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Uber made an offer to buy the delivery service Grub Hub, Bloomberg reported Tuesday, citing people familiar with the matter.

A deal could be reached by June, according to Bloomberg's sources, who also caveat that the talks could also end with no agreement.

No other details of a potential deal were reported. GrubHub's market value was about $5.7 billion dollars on Tuesday, Uber ended the first quarter with roughly $9 billion in cash or cash equivalents on its balance sheet.

Shares of GrubHub surged more than 30% after the report. Uber's stock price was up about 3%.

Business Insider has reached out to both companies and will update this post if comment is received.

Uber has relied heavily on its Uber Eats food-delivery arm to make up for severe losses in its main ride-hailing business thanks to the coronavirus pandemic.

A potential purchase or investment in GrubHub could align with Uber's stated plans to be either the No. 1 or No. 2 player in any market where it does business. In Uber's annual meeting on Monday, Khosrowshahi told investors that the company was always evaluating potential acquisitions.

"We are in dialogue with many players," he said, "and because of our being Uber, the biggest player in this area, the global player, you can imagine that we're having lots of conversations. We always have those conversations with an eye towards continuing to build a great service long-term and maximize shareholder value along with it."

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