Uber launches bid to buy PedidosYa owner Delivery Hero for €10 billion

The global delivery platform war has intensified as Uber Technologies confirmed it has submitted a formal offer to acquire Delivery Hero, the German company that owns popular services like PedidosYa and Glovo.

The indicative offer from Uber stands at €33 per share, which would amount to a total acquisition value of approximately €10 billion. Delivery Hero, based in Berlin, stated that it is currently focused on its strategic review process and has not yet detailed whether its board will recommend the offer. Further updates are expected when deemed necessary or appropriate.

This acquisition proposal comes shortly after Uber significantly increased its investment in Delivery Hero. In mid-April, Uber acquired a block of 13.6 million shares, representing about 4.5% of Delivery Hero's issued capital. Subsequently, on May 18, Delivery Hero announced that Uber's ownership had grown to 19.5% of its issued capital, along with an additional 5.6% in options.

Delivery Hero is a major player in the delivery sector, operating in around 65 countries across Asia, Europe, and Latin America. Its presence in the market, particularly through PedidosYa in Latin America, makes it a strategic target for Uber as it seeks to expand its global delivery footprint and consolidate its position against competitors like Rappi.