Delivery Hero Confirms Takeover Offer From Rival Uber
Uber has raised its stake to about 19.5% and is speaking with other investors as Delivery Hero reviews strategic options, people familiar with the matter said.
- On Monday morning, Delivery Hero shares rose over 10% following a Financial Times report that Uber is weighing an improved takeover bid for the Berlin-based food delivery firm.
- Delivery Hero confirmed on Saturday it received a 33 euros per share offer from Uber, adding it "remains fully focused on executing its strategic review process."
- Uber increased its stake to about 19.5% while major shareholders Prosus, holding almost 17%, and Aspex Management, with more than 14%, continue lobbying for asset sales.
- Amid heavy global competition, DoorDash, which acquired Deliveroo PLC last year, has expressed interest in Delivery Hero's Middle East business, Talabat, signaling broader consolidation.
- Deliberations remain ongoing with no certainty of a deal, as some investors seek offers exceeding 40 euros per share and any buyer may require antitrust approval.
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38 Articles
Madrid, Spain. The listing of the shares of Delivery Hero, the German platform owned by Glovo, rose by more than 12% this Monday after the opening of the Frankfurt Stock Exchange. The result was obtained after the company confirmed during the weekend that Uber Technologies expressed interest in presenting an offer of acquisition. To this were added press releases on a possible improvement in the proposed initial price.In particular, the titles o…
Major shareholders in the German company have objections to a potential sale to its American rival. Glovo will implement a workforce reduction plan (ERE) across its Andalusian workforce, except in Huelva and Granada.
Uber wants to significantly expand its market power with Uber Eats and is targeting the German group. However, the competition authorities could now become a decisive obstacle.
Uber makes €10bn bid for Foodora parent company
Uber Technologies has made a takeover approach for German food delivery group Delivery Hero, the owner of Foodora, which ended operations in Finland earlier this year. The US company offered 33 euros per share for Delivery Hero, valuing the company at about 10 billion euros. Delivery Hero confirmed over the weekend that it had received the proposal. The offer pushed Delivery Hero shares higher on Monday.
Delivery Hero confirms takeover offer from rival Uber
Berlin — Shares in Delivery Hero surged on Monday after the company confirmed takeover interest from U.S. ride-hailing and food delivery giant Uber, fuelling speculation of a potential bidding war. The Berlin-based food-delivery service, which is listed on Germany’s MDAX index, said Uber had approached it with an offer of 33 euros ($38) per share for a full takeover. The proposed price was below Delivery Hero's closing share price on Friday. The…
A multi-billion euro bid by taxi and food delivery app Uber for German food delivery service Delivery Hero is causing speculation among investors. Uber made a bid this weekend valuing the company at 10 billion euros. However, Delivery Hero's share price on the Frankfurt stock exchange surpassed that value on Monday, as investors bet that a higher price is needed to close the deal.
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