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🇦🇹 Austria /Economy & Trade

Uber Confirms Takeover Offer for Delivery Hero

From Der Standard · () German

Translated from German and summarized by DistantNews. Read the original for the full story.

At a glance

News Named sources New plan
  • German food delivery company Delivery Hero has confirmed receiving an acquisition offer from US rival Uber.
  • The offer values Delivery Hero at 33 euros per share, with the company's stock price rising significantly in response.
  • Uber had previously stated it had no intention of acquiring a significant stake in Delivery Hero, which competes with its Uber Eats service.

German food delivery giant Delivery Hero has confirmed it has received an acquisition offer from its US competitor, Uber. The proposed deal values Delivery Hero at 33 euros per share, a significant increase that has boosted the company's stock price. Delivery Hero's market value currently exceeds ten billion euros.

The confirmation comes after Uber had earlier in the week issued a statement indicating it had "no intention at the moment to acquire 30 percent or more of the voting rights" of Delivery Hero. This previous statement is notable as Delivery Hero operates a service that directly competes with Uber's own food delivery platform, Uber Eats.

The potential acquisition signals a major shift in the competitive landscape of the global food delivery market. Details regarding the negotiation process and the likelihood of the deal proceeding were not immediately available. The market reaction, however, has been strongly positive for Delivery Hero's shareholders, with the stock price reflecting the premium offered by Uber.

About this summary

Originally published by Der Standard in German. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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