Uber Technologies agreed to acquire Postmates, a food delivery service, from GPI Capital for $2.7bn in an all-stock transaction. Uber will issue c. 84m shares of common stock for 100% fully diluted equity of Postmates. "Uber and Postmates have been strong allies working together to advocate and create the best practices across our industry, especially for our couriers. Together we can ensure that as our industry continues to grow, it will do so for the benefit of everyone in the communities we serve," Bastian Lehmann, Postmates Co-Founder and CEO. The US Justice Department has cleared Uber's acquisition of Postmates on November 9, 2020.