Wonder Group Inc. is buying Grubhub from Just Eat Takeaway.com NV for about $650 million, acquiring the restaurant delivery service at a steep discount to the $7.3 billion price tag it commanded during the early days of the Covid pandemic.

Just Eat Takeaway.com is to sell its US food delivery platform Grubhub to Wonder Group for $650m (£510m), little more than three years after acquiring the business for $7.3bn (£5.75bn).

Europe's biggest meal delivery firm Just Eat Takeaway said on Wednesday it had struck a deal to sell its U.S. unit Grubhub to Wonder for $650 million, sending its shares soaring 20% in early trading.