Uber and DoorDash Explore Delivery Hero Acquisition at 19% Premium
UBER•Uber and DoorDash hold early talks to acquire Delivery Hero at above €40 per share, implying a 19% premium valuing the company near €13 billion, as Uber’s 33-per-share bid was rejected despite its 25% stake. DoorDash eyes Delivery Hero’s Middle East and Turkey divisions; deal faces uncertain terms and regulatory scrutiny.
1. Early Talks on Delivery Hero Stakes
Uber and DoorDash have initiated discussions with Delivery Hero investors to acquire existing stakes, focusing on share blocks offered at above €40, which implies a 19% premium over the company’s last closing price and values Delivery Hero at roughly €13 billion.
2. Uber’s 33-Per-Share Offer Rejected
Uber’s board considered a 33-per-share bid following CEO meetings in Oslo, but the proposal failed to secure support from key shareholders despite Uber already holding around 25% of Delivery Hero through direct equity and derivatives.
3. DoorDash’s Targeted Regional Strategy
DoorDash is exploring a narrower play for Delivery Hero’s Middle East and Turkey divisions, with the option to pursue a full takeover still on the table pending investor and strategic considerations.
4. Deal Dynamics and Uncertainties
The takeover process remains fluid, with final pricing, transaction structure and potential regulatory hurdles yet to be resolved, leaving both bidders free to adjust or withdraw their proposals.
