Key facts
- Uber Technologies is in advanced talks to acquire German food-delivery company Delivery Hero.
- The potential takeover offer values Delivery Hero at approximately €10 billion ($11.6 billion).
- Uber's offer is reportedly €33 per share.
- Delivery Hero confirmed it received an approach from Uber.
- Uber already owns a 20% stake in Delivery Hero.
Uber Technologies is reportedly in advanced negotiations to acquire German food-delivery company Delivery Hero, according to Bloomberg News and confirmed by Reuters. The proposed deal values Delivery Hero at approximately €10 billion ($11.6 billion), with Uber offering €33 per share. Delivery Hero confirmed on Tuesday that it was in advanced negotiations with Uber regarding a potential takeover offer, following earlier media reports. The Berlin-based company has gained about 62% this year, giving it a market value of roughly 11.2 billion euros. Uber, which already holds a 20% stake in the German company, is looking to expand its food delivery network in Europe, the Middle East, Asia, and Latin America. The talks follow months of speculation and a previous offer from Uber in May that investors viewed as too low. Acquiring Delivery Hero would likely attract attention from antitrust regulators due to overlapping operations. Consolidation in the industry is being driven by slowing growth and intense competition, with Uber also expanding beyond ride-hailing into areas like grocery and hotel bookings.