6/21, 2:44 PM (Source: TeleTrader)
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Uber to fully acquire Cornershop in all-stock deal

Uber Technologies announced on Monday it reached an agreement with minority shareholders in Cornershop to acquire the remaining 47% of the company in an all-stock transaction.

The minority shareholders will receive a total of approximately 29 million Uber shares, including approximately 4 million shares in respect of assumed outstanding stock options.

The transaction, which is subject to customary closing conditions, is expected to close in July when Cornershop will become a wholly-owned Uber subsidiary.

Breaking the News / NP