Uber Makes Takeover Bid for Delivery Hero
CNBC reported Saturday that Delivery Hero has confirmed receiving an Uber takeover offer pricing the German food-delivery company at 33 euros per share. That figure translates to roughly $38.29 at current exchange rates. The bid lands as Delivery Hero navigates an active strategic review process amid pressure from major shareholders.
A Bid at a Slight Discount
The 33-euro offer represents a marginal discount to where Delivery Hero shares last closed on Friday. According to data from LSEG, the haircut amounts to approximately 1.76%. Uber has not publicly outlined a financing structure or timeline for any formal offer.
The news follows a Bloomberg report on Friday that Uber was actively exploring a full buyout of the Berlin-based company. Uber shares slipped 1.6% in the wake of that report, reflecting investor caution about deal costs.
How Uber Built Its Foothold
Uber had already been quietly amassing a position in Delivery Hero before the confirmation. Last week, the San Francisco-based ride-and-delivery giant disclosed it had lifted its stake from around 7% to roughly 19.5% of the company’s issued capital. That move vaulted Uber into the position of Delivery Hero’s single largest shareholder. Reuters calculations put the value of that stake at approximately 1.7 billion euros.
The stake-building was a clear signal of strategic intent, setting the stage for Saturday’s formal confirmation of an offer.
Leadership Void Adds to Urgency
The takeover approach arrives at a turbulent moment internally. Delivery Hero CEO Niklas Oestberg announced his departure last week following sustained campaigns by several large shareholders demanding a thorough strategic review of the business. The company reiterated in its Saturday statement that the review remains its central focus. It did not provide specifics about Uber’s offer terms or whether the board views the bid as acceptable.
The leadership vacuum and the open review process could make Delivery Hero more receptive to outside approaches. The company has faced persistent questions about its profitability trajectory and portfolio structure across its global markets.
What Comes Next for Both Companies
A full Uber acquisition of Delivery Hero would rank as one of the largest deals in the global food-delivery sector. It would substantially expand Uber Eats’ European and international footprint. Analysts will be watching whether Uber raises its per-share price to overcome the small discount embedded in the current figure.
Delivery Hero has not indicated whether it considers 33 euros a credible starting point or a ceiling for negotiations.
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