Uber Bids €33 per Share for Delivery Hero, Stock Up 10%
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- Delivery Hero shares jumped 10.5% on Monday after a Financial Times report that Uber was considering a higher takeover bid.
- Uber offered €33 per share for Delivery Hero, valuing the German firm at over €10 billion, after a previous €38 per share proposal was rejected by a major shareholder.
- Uber increased its stake in Delivery Hero to about 19.5% of issued capital, up from roughly 7%, becoming the company's largest shareholder.
- Uber stock fell 2.4% following the news of the renewed bid.
- Industry analysts view the potential deal as the next wave of consolidation in the food‑delivery market, following DoorDash’s acquisition of Deliveroo and Prosus’s purchase of Just Eat.
Why it matters: Uber’s €33 per‑share bid lifts Delivery Hero’s valuation above €10 bn and spikes its stock 10%, while Uber’s own shares dip 2.4%; the deal would deepen food‑delivery consolidation, reshaping competitive dynamics for diners and restaurants.
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