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Uber moves to acquire rival food-delivery service Postmates: report

Uber Technologies Inc. has made a bid to take over rival food-delivery company Postmates, the New York Times reported Monday night. Talks were reported to be ongoing, but a deal could come within hours, the Times said. A price was not reported, but Postmates has raised more than $900 million in funding, according to Crunchbase. An acquisition would be a consolation prize of sorts for Uber, which failed to buy GrubHub earlier this year. Postmates is the fourth-largest U.S. company in the food-delivery business, and is particularly strong in the Los Angeles and Miami markets.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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