Delivery Hero shares rise 10% as rival Uber mulls another takeover bid
Posts on: Delivery Hero Financial Times’ US rival Uber Emphasis was placed on an improved offer for the German food distribution company.
Delivery Hero confirmed on Saturday that it had received a takeover offer from Uber for €33 ($38.29) per share; This offer would put the company’s market value at over €10 billion.
The German company added that it is “fully focused on conducting the strategic review process and further updates will be provided when necessary or appropriate.”
Delivery Hero Its shares opened with a 10.5% increase.
On Sunday, the FT reported that Uber’s board met on Saturday to discuss an improved offer for its Berlin-based counterpart after it was reported that a bid of 38 euros per share had been rejected by one of Delivery Hero’s major shareholders.
Delivery Hero said last week that it had increased its share of Uber’s issued capital from roughly 7% to about 19.5%, making it its largest shareholder.
Uber’s shares fell 2.4 percent following the news on Friday.
If successful, the deal would mean further consolidation in the food delivery sector following DoorDash’s acquisition of Deliveroo and Prosus’ acquisition of Just Eat last year.
