Published On: Sat, Aug 20th, 2016

Uber Offers $2bn To Acquire Lyft; The Ridehailing Giant Looking For $9bn

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Lyft is lately learned looking for $9 million buyout and Uber is offering just $2 billion to the maximum to acquire the ridehailing company, which is its main competitor.

Uber has been considering of buying Lyft since 2004 and sources from Lyft said the $2 million offer is below acceptable even though it went in a quest for buyers recently.

Lyft proposed a $9 billion deal for its assets in the quest.

Uber Offers usd2bn To Acquire Lyft; The Ridehailing Giant Looking For usd9bn

Meanwhile, General Motors Co. valued $5.5 billion for acquiring Lyft earlier this week and it is learned the auto giant did meet for informal negotiations to pave way for an acquisition.

However, the talks failed to reach to any point and Lyft turned down the proposal that was formulated by the automaker.

No official word has been spoken about the failed negotiation either by GM or by Lyft, which selected Qatalyst Partners as consulting company to help to look for potential acquirers.

It is also learned Lyft had earlier approached some more giants apart from Uber and GM including Amazon, Alphabet, China-based ridehailing giant Didi Chuxing, and Apple too.

Last month Didi is learned to have shown interest in buying Uber China.

Lyft currently has cash reserve of $1.4 billion and this is almost enough for the company to keep fighting independently.

Do also share your views whether Lyft is worth $9 billion or the ridehailing compamy need to lower down its expectation. Use the below given comment box.

About the Author

- Paul Linus is an eminent online journalist who has been writing news, features and editorials on different websites from across the world for about a decade.