Uber launches $14.8 billion offer for Delivery Hero to create global platform

Uber, which has made the acquisition conditional on a minimum acceptance threshold of **50% plus one share**, will offer **€41.50 ($47.58)** in cash per share. The offer represents a roughly **34% premium** on Delivery Hero's three-month volume-weighted average share price prior to the takeover announcement, said the company. Shares in Delivery Hero, which closed at **€38.18** on Wednesday, were up around **5.7%** in premarket trading in Frankfurt but dipped shortly after opening and were trading down about **1%** at **0727 GMT**. Delivery Hero's management board and supervisory board said they supported the proposal and intended to recommend shareholders accept the offer after reviewing the formal offer document. "The food delivery business is highly competitive and scale dependent," Delivery Hero Supervisory Board Chair Kristin Skogen Lund said. "Joining forces with a strong partner now is the right move for Delivery Hero to best secure its future competitiveness." The offer is expected to be completed in the **second half of next year**. Delivery Hero on Tuesday confirmed it was in advanced negotiations with Uber regarding a potential takeover offer. Major shareholder **Prosus** has agreed to sell its stake of just under **17%** in the food delivery company, according to Uber, which had already secured exposure to nearly **37%** of Delivery Hero shares, including through derivatives. Uber's total economic interest in Delivery Hero would amount to more than **53%** after the tender commitment. **$1 = 0.8722 euros** Acquiring Delivery Hero would widen the Uber Eats food-delivery network in Europe, the Middle East, Asia and Latin America, but would also attract attention from antitrust regulators given the overlap in the companies' presence. As part of the agreement, Delivery Hero has agreed to sell part of its business covering **14 markets** to U.S.-based investment firm **SSW Partners** for about **€1.4 billion**. The divestment is aimed at addressing overlap between the companies' operations and could help smooth the path for regulatory approvals. For its part, Uber has committed to invest **€2 billion** in Germany through **2031** and agreed to retain Delivery Hero's Berlin headquarters and workforce until at least **2029**. Uber **UBER.N** on Thursday launched a public takeover offer for Delivery Hero **DHER.DE** that values the German food delivery company at **$14.8 billion** and would create the world's largest food-delivery firm outside China. The acquisition advances the U.S. ride-hailing firm's efforts to build a global presence in the food-delivery business as it faces intensifying competition from rivals such as DoorDash **DADH.O**, which has been expanding aggressively abroad. The transaction would create a platform spanning **99 countries** with combined pro-forma gross merchandise value of **$236 billion in 2025**, the companies said in a joint statement.

Uber launches $14.8 billion offer for Delivery Hero to create global platform

Offer terms and market reaction

Management support and expected timing

Widening presence and regulatory considerations

Uber launches public takeover offer for Delivery Hero

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