Uber Proposes €33 Per Share for Delivery Hero Amid Takeover Interest
Uber offers €33/share for Delivery Hero as takeover battle heats up
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Uber Technologies Inc. has offered to acquire Delivery Hero SE for €33 ($38) per share as part of its strategy to compete with DoorDash Inc. The offer is slightly below Delivery Hero's recent stock price, and while the German company is focused on its strategic review, investors are reportedly seeking a higher price. Uber has increased its stake in Delivery Hero to nearly 20%.
- 01Uber's offer of €33 per share is 1.8% below Delivery Hero's closing price on Friday.
- 02Several investors have indicated they would prefer a sale price above €40 per share.
- 03Uber currently holds close to 20% of Delivery Hero after recent share purchases.
- 04Morgan Stanley has assisted Uber in rapidly increasing its stake through derivatives.
- 05Delivery Hero's CEO Niklas Östberg is stepping down amid pressure from activist investors.
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Uber Technologies Inc. has made a bid to acquire Delivery Hero SE for €33 ($38) per share, aiming to enhance its competitive stance against DoorDash Inc. in international markets. This proposal comes as Delivery Hero confirmed Uber's interest following reports from Bloomberg and the Financial Times. The offer is 1.8% lower than Delivery Hero's closing stock price, leading some investors to express that they would prefer a sale price exceeding €40 per share. Uber's stake in Delivery Hero has surged to nearly 20%, bolstered by recent share purchases and options, with Morgan Stanley facilitating this increase through derivatives. Meanwhile, Delivery Hero is undergoing a strategic review and has faced pressure from investors to improve its financial performance, resulting in CEO Niklas Östberg's decision to resign. The ongoing discussions between Uber and Delivery Hero investors may lead to a potential takeover battle, though no deal is guaranteed as deliberations continue.
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The potential acquisition could reshape the competitive landscape of the food delivery market in Europe, affecting both consumers and investors.
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