● Covered by 1 source · 1 reportMedium impact1 neutral
Delivery Hero Board Recommends Uber's $15 Billion Takeover Offer
Key points
- Delivery Hero's board approved Uber's $15 billion takeover offer.
- The deal requires approval from Delivery Hero shareholders.
- Uber is already Delivery Hero's largest shareholder.
- Prosus will sell its 17% stake in Delivery Hero.
Board Endorsement
Delivery Hero's supervisory and management boards have recommended that shareholders accept Uber's $15 billion takeover offer. The boards stated that the offer is in the best interests of the company, its shareholders, employees, and other stakeholders, and deemed the price "fair and adequate."
Strategic Expansion for Uber
If approved, the acquisition would double Uber's global footprint in the on-demand food delivery sector, making its platform one of the largest worldwide outside of China. This expansion is expected to enhance Uber's competitive position against companies such as DoorDash and Just Eat Takeaway.
Shareholder Support and Pre-existing Conditions
Uber, already the largest shareholder in Delivery Hero, has set a minimum acceptance threshold of 50% plus one share of Delivery Hero's outstanding capital. Major shareholder Prosus has also agreed to sell its 17% stake as part of the deal. Prior to this offer, Delivery Hero sold its businesses in 14 markets where Uber Eats operates to SSW Partners for $1.6 billion.
Industry Consolidation Trend
This proposed merger is part of a broader trend of consolidation within the on-demand delivery industry. Recent examples include Uber's acquisition of Turkey-based Getir for $335 million, Grab's purchase of Delivery Hero's Foodpanda business in Taiwan for $600 million, and DoorDash's $3.87 billion acquisition of Deliveroo in the U.K.
✨ This summary was generated by AI from the outlets' reporting listed below. It is not independently verified and may contain errors — check the original sources. How BrevFeed works →
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Reporting from
Delivery Hero's board has endorsed Uber's $15 billion takeover bid, recommending shareholders approve the deal. This acquisition would significantly expand Uber's global food delivery footprint and position it to better compete with rivals like DoorDash and Just Eat Takeaway.