Uber Proposes €33 Per Share Takeover Bid for Delivery Hero
Uber has proposed a €33-per-share takeover bid for Delivery Hero, 1.8% below its recent closing price, while holding nearly 20% stake and a further 5.6% via options. Delivery Hero investors are pushing for above €40 per share and CEO Niklas Östberg will step down.
1. Bid Proposal Details
Uber has approached Delivery Hero with an indicative takeover offer of €33 per share, representing a 1.8% discount to its last closing price, as it seeks full acquisition.
2. Stake Accumulation
Uber currently holds close to 20% of Delivery Hero’s shares and has secured an additional 5.6% exposure through options, with advisers evaluating raising its stake further.
3. Delivery Hero’s Strategic Review
Delivery Hero is conducting a strategic review and has not accepted the €33 offer; several investors have indicated they want above €40 per share and its CEO will step down.
4. Deal Dynamics and Considerations
Talks with other investors and DoorDash have emerged, suggesting a potential bidding war, with any deal potentially requiring antitrust approval and a mandatory tender offer if ownership crosses 30%.