Wachtell, Latham Take Lead in Uber’s Postmates Purchase (1)

Wachtell, Lipton, Rosen & Katz is advising Uber Technologies Inc. in a $2.65 billion all-stock acquisition of the meal delivery service company Postmates, Inc., which is represented in the deal by Latham & Watkins.

The deal will boost Uber’s food delivery service capabilities in the company’s bid to compete with DoorDash, the current market leader in the U.S. Uber previously failed in a bid to acquire GrubHub Inc., a privately-held company that was later purchased by Netherlands-based Just Eat Takeaway.com.

Uber has cut more than a quarter of its staff since the beginning of the coronavirus pandemic, and pared back ...