Uber Technologies : to Waive Exclusivity Provisions Between Postmates and About 800 Restaurants

By Dave Sebastian

Uber Technologies Inc. said Tuesday it told the Justice Department it will waive exclusivity provisions between Postmates Inc. and about 800 restaurants in the U.S. for six months after Uber's acquisition closes, and won't enter into exclusivity agreements with those restaurants.

Uber in July said it would buy the food-delivery company for $2.65 billion in stock, an acquisition that will help it better compete in restaurant delivery and the market for delivering groceries and other staples.

Uber said it expects the deal to close by the end of the year. The company said the DOJ granted an early termination for a transaction-closing waiting period.

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(END) Dow Jones Newswires

11-10-20 1014ET