Key facts
- Uber Technologies is in advanced talks to acquire Delivery Hero.
- The proposed takeover values Delivery Hero at approximately €10 billion ($11.6 billion).
- Uber's offer is €33 per share, slightly above Delivery Hero's recent closing price.
- Delivery Hero confirmed it received an approach from Uber.
- Uber already owns 20% of Delivery Hero.
Uber Technologies is reportedly in advanced negotiations to acquire German food-delivery company Delivery Hero, according to Bloomberg News. The proposed deal values Delivery Hero at approximately €10 billion ($11.6 billion), with Uber offering €33 per share, a slight premium to its recent closing price.
Delivery Hero confirmed on Saturday that it had received an approach from Uber and stated that it remains focused on executing its strategic review process. Uber, which already holds a 20% stake in the German company, is looking to ramp up its competition with DoorDash Inc. outside of the United States.
Uber is also reportedly considering asset sales within Delivery Hero to facilitate a full takeover, aiming to smooth the path for the acquisition.