Uber Technologies has formally launched a public takeover offer for German food delivery giant Delivery Hero, valuing the company at approximately $14.8 billion (€13 billion). Uber is offering €41.50 per share in cash, representing a premium to Delivery Hero's recent trading price, with the deal subject to a minimum acceptance threshold of 50% plus one share.
Delivery Hero's management and supervisory boards have unanimously endorsed the offer and will recommend shareholders accept it, pending review of final documents. Uber already held a nearly 37% economic interest in Delivery Hero, including derivatives. Major shareholder Prosus has agreed to sell its ~17% stake, raising Uber's combined economic interest to roughly 53%, a key step toward closing the transaction.
The acquisition significantly expands Uber's international delivery footprint, adding Delivery Hero's operations across roughly 50 markets, including Talabat in the Middle East, HungerStation in Saudi Arabia, PedidosYa in Latin America, and Baemin in South Korea. These are regions where Uber Eats currently has limited or no presence. To ease regulatory approval, Delivery Hero will divest operations in 14 markets, including the sale of Turkish unit Yemeksepeti to investment firm SSW Partners. Uber has committed to keeping Delivery Hero's headquarters in Berlin, retaining its workforce through at least 2029, and investing €2 billion in Germany over five years.
The deal, expected to close in the second half of 2027, reflects accelerating consolidation in the food delivery industry following recent moves by DoorDash and Prosus. Analysts remain broadly positive on Uber stock, which carries a Strong Buy consensus and average price target of $107.28 on TipRanks.
