Delivery Hero falls after Uber launches takeover offer

** Shares in Germany's Delivery Hero DHER.DE fell as much as 2.3% after Uber UBER.N launched a $14.8 billion takeover offer

** Uber said it will pay €41.5 ($47.6) per share, a 9% premium to Wednesday's close price

** Delivery Hero has also agreed to sell businesses in 14 markets to U.S. SSW Partners for €1.4 billion, in a deal aimed at facilitating regulatory approval

** Jefferies note the stock's price has already risen after previous press leaks

** "We see little room for shareholders to push a price bump, nor for a counter bidder to emerge," Jefferies says

** The use of a financial investor to get ahead of the antitrust questions could prove successful, but the long timeline to completion (2H27) suggests it won't be a straightforward review, the broker adds

** "Our base case is we're about to see a long slow march of DH out of the public markets," it says

** Shares in the co are flat at 09:02 GMT

** The stock gained around 67% YTD as of Wednesday's close

($1 = 0.8720 euros)