Delivery Hero Board Approves Uber's $15B Takeover Bid
Original: Delivery Hero board backs Uber’s $15B takeover bid
Why This Matters
The deal signals accelerating global consolidation in on-demand food delivery, reshaping competitive dynamics worldwide.
Delivery Hero's supervisory and management boards have unanimously backed Uber's $15 billion takeover offer, calling the price 'fair and adequate' and recommending shareholders approve the deal, which would make Uber's delivery platform one of the world's largest outside China.
Delivery Hero's supervisory and management boards have formally endorsed Uber's $15 billion acquisition offer, recommending shareholders approve the deal and citing its potential to 'accelerate product innovation.' The boards stated the offer was in the best interests of the company, its shareholders, employees, and other stakeholders.
Uber, already the largest shareholder in Delivery Hero, has set a minimum acceptance threshold of 50% plus one share of outstanding share capital. Major shareholder Prosus has separately agreed to tender its 17% stake as part of the transaction.
If completed, the deal would double Uber's global footprint and strengthen its competitive position against DoorDash and Just Eat Takeaway. Delivery Hero had previously agreed to divest its operations in 14 markets where Uber Eats already operates to SSW Partners, a New York-based investment firm, for $1.6 billion.
The acquisition reflects broader consolidation in the on-demand delivery sector. Recent deals include Uber's $335 million acquisition of Turkey's Getir, Grab's $600 million purchase of Foodpanda's Taiwan operations from Delivery Hero, and DoorDash's $3.87 billion acquisition of UK-based Deliveroo.