Shares Rise After Takeover Offer
Shares in Delivery Hero rose more than 10% on Monday morning after a Financial Times report said U.S. rival Uber had considered improving its takeover bid for the German food delivery company.
The move followed Delivery Hero’s confirmation over the weekend that it had received an offer from Uber worth 33 euros per share, or about 38.29 dollars. That proposal would value Delivery Hero’s market capitalization at more than 10 billion euros.
Delivery Hero Confirms Uber Approach
In a statement on Saturday, Delivery Hero said it had received a takeover offer from Uber. The company added that it remains focused on executing its strategic review process.
Delivery Hero said further updates would be provided when required or appropriate. The statement gave investors confirmation that Uber’s interest had moved beyond market speculation.
Uber May Consider A Higher Bid
According to the Financial Times, Uber’s board met on Saturday to discuss a possible improved offer for the Berlin-based company.
The report said a previous offer of 38 euros per share had been rejected by one of Delivery Hero’s major shareholders. That raised expectations that Uber may need to increase its proposal if it wants to secure a deal.
Uber Becomes Largest Shareholder
Delivery Hero said last week that Uber had increased its stake in the company to about 19.5% of issued capital, up from roughly 7%.
That move made Uber the largest shareholder in Delivery Hero and strengthened speculation that the U.S. company could pursue a full takeover. Uber shares fell 2.4% after the news emerged on Friday.
A Sector Moving Toward Consolidation
If completed, a deal between Uber and Delivery Hero would mark another major consolidation move in the global food delivery industry.
The sector has already seen significant merger activity, including DoorDash’s acquisition of Deliveroo and Prosus’s purchase of Just Eat last year. Companies are seeking greater scale as they work to improve profitability in a competitive and cost-sensitive market.
Strategic Importance For Uber
For Uber, acquiring Delivery Hero could strengthen its global delivery footprint and expand its exposure to markets where Delivery Hero already has significant operations.
The potential deal would also deepen Uber’s position in food delivery at a time when scale, logistics efficiency and customer density remain critical for margins.
Investors Watch The Next Move
The sharp rise in Delivery Hero shares shows that investors are pricing in the possibility of a higher offer or further takeover activity.
However, the outcome remains uncertain. Delivery Hero is continuing its strategic review, and Uber would likely need to satisfy shareholders that any bid properly reflects the company’s value and position in a consolidating delivery market.
