Uber Considers Increasing Bid for Delivery Hero Amid Shareholder Pushback
Uber weighing higher bid for Germany’s Delivery Hero: report
Image: New York Post
Uber's board is contemplating a higher bid for Delivery Hero after a significant shareholder rejected its initial offer valuing the company at over €11.5 billion ($13.39 billion). The current offer stands at €33 per share, but shareholders are demanding more than €40 per share.
- 01Uber's initial bid for Delivery Hero was €33 per share, valuing the company at over €11.5 billion ($13.39 billion).
- 02Uber approached a major shareholder with a proposal of €38 per share, which was declined.
- 03Delivery Hero's shareholders are seeking a price exceeding €40 per share for the entire company.
- 04Uber CEO Dara Khosrowshahi met with Delivery Hero's supervisory board chair to discuss the offer.
- 05DoorDash has expressed interest in Delivery Hero but has not made any acquisitions yet.
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Uber Technologies Inc. is considering increasing its bid for Delivery Hero, a German food delivery company, after a major shareholder rejected its initial offer. The current bid values Delivery Hero at €11.5 billion (approximately $13.39 billion), with an offer of €33 per share. Reports indicate that Uber's CEO Dara Khosrowshahi recently met with Delivery Hero's supervisory board chair, Kristin Skogen Lund, to discuss the proposal. Despite this, one of Delivery Hero's largest shareholders has pushed back against the offer, suggesting a price of at least €40 per share for the company. The situation has prompted Uber to consider raising its bid further. Additionally, rival DoorDash has shown interest in Delivery Hero, making inquiries to shareholders but has not yet purchased any shares. This ongoing negotiation highlights the competitive landscape in the food delivery market, as companies vie for strategic acquisitions to expand their operations.
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The outcome of Uber's bid for Delivery Hero could significantly affect the competitive dynamics of the food delivery market in Germany and beyond.
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