Uber Launches $14.8 Billion Takeover Bid for Delivery Hero

Uber has launched a public takeover offer for the German food delivery company Delivery Hero, valuing the firm at approximately $14.8 billion. The deal aims to expand Uber's global food delivery network across multiple continents.

Key points

• Uber is offering €41.50 per share in cash, representing a 34% premium over the company's three-month volume-weighted average share price.
• The acquisition is conditional on a minimum acceptance threshold of 50% plus one share.
• Delivery Hero has agreed to sell its business operations in 14 markets to the investment firm SSW Partners for roughly €1.4 billion.
• Major shareholder Prosus has committed to selling its 17% stake in Delivery Hero as part of the transaction.
• Uber has pledged to maintain Delivery Hero's headquarters in Berlin and avoid staff reductions until at least 2029.

Why it matters

This merger represents one of the largest consolidations in the European delivery sector, significantly expanding Uber's market presence while drawing potential scrutiny from antitrust regulators.