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Uber expects Postmates deal to close by year end after regulatory nod

Published 11/10/2020, 10:35 AM
Updated 11/10/2020, 10:40 AM
© Reuters. Uber and Lyft drivers demonstrate over basic employee rights in California
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(Reuters) - The U.S. Justice Department has approved Uber Technologies Inc 's (N:UBER) $2.65 billion acquisition of food delivery company Postmates, clearing the way for the deal to close by the end of 2020, the ride-hailing firm said.

© Reuters. Uber and Lyft drivers demonstrate over basic employee rights in California

Earlier in September, Uber said the department was scrutinizing its plan to buy Postmates over antitrust concerns, and had put the deal on hold until both companies complied with the government's request for more details to receive an approval.

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