Uber launches $14.8 billion takeover bid for Delivery Hero
New York Post · RC · trust 51/100
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Add The New York Post on Google Uber on Thursday launched a public takeover offer for Delivery Hero that values the German food delivery company at around $14.8 billion, as part of the US ride-hailing firm’s efforts to widen its food delivery network abroad.
Uber, which has made the acquisition conditional on a minimum acceptance threshold of 50% plus one share, will offer $47.58 in cash per share.
Acquiring Delivery Hero would widen the Uber Eats food-delivery network in Europe, the Middle East, Asia and Latin America, but would also attract attention from antitrust regulators given the overlap in the companies’ presence.
Uber has launched a public takeover offer for Delivery Hero that values the German food delivery company at around $14.8 billion. Christopher Sadowski Shares in Delivery Hero were up around 5.7% in premarket trading in Frankfurt after the announcement.
The offer represents a roughly 34% premium on Delivery Hero’s three-month volume-weighted average share price prior to the takeover announcement, said the company.
Shares in Delivery Hero closed at €38.18 on Wednesday.
As part of the agreement, Delivery Hero has agreed to sell part of its business covering 14 markets to US-based investment firm SSW Partners for about €1.4 billion.
Delivery Hero on Tuesday confirmed it was in advanced negotiations with Uber regarding a potential takeover offer.
Acquiring Delivery Hero would widen the Uber Eats food-delivery network in Europe, the Middle East, Asia and Latin America, but would also attract attention from antitrust regulators given the overlap in the companies’ presence. Timon – stock.adobe.com Major shareholder Prosus has agreed to sell its stake of just under 17% in the food delivery company, according to Uber.
Including derivatives, Uber had already secured a stake of just under 37% in Delivery Hero.
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