Delivery Hero board backs Uber $14.8 billion takeover bid

Delivery Hero board backs Uber $14.8 billion takeover bid

Wed, September 2, 2026 at 8:47 PM GMT+3 2 min read

• DHER.DE -0.52%
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Delivery Hero endorsed a $14.8 billion takeover bid from Uber Technologies on Wednesday, urging shareholders to accept the offer.

The Berlin-based company said its management and supervisory boards had independently reviewed the offer. "They deem the offer to be in the best interest of the Company, its shareholders, employees and other stakeholders," Delivery Hero said in a statement. "They therefore support the offer and recommend that Delivery Hero shareholders accept it."

The boards also echoed Uber's assessment, saying the combined entity could speed up product innovation and open meaningful new avenues for employees, customers, merchants, riders, drivers, and other stakeholders.

Uber announced in July that it had reached an agreement to acquire Delivery Hero, valuing the German company at $14.8 billion. Delivery Hero had indicated at that time that its boards planned to support the deal. Prior to entering acquisition discussions, Uber had been gradually building up its ownership stake in Delivery Hero, eventually becoming the company's biggest shareholder.

Uber's pursuit of Delivery Hero began earlier this year when Delivery Hero confirmed that Uber had submitted an indicative proposal of €33 per share, equivalent to roughly $11.6 billion. Uber's stake in Delivery Hero had grown from around 7% to approximately 19.5% of issued capital in the weeks before that bid, elevating Uber to the position of top shareholder. An offer of €38 per share was reportedly rejected by one of Delivery Hero's major shareholders before the two sides reached the current agreement.

The proposed deal would bring together two of the world's largest food delivery platforms and continues a wave of consolidation in the industry. Uber's U.S. rival DoorDash last year agreed to acquire British food delivery company Deliveroo, while tech investor Prosus — which owns food delivery platform iFood — struck a deal to take over Amsterdam-based Just Eat Takeaway.com. European regulators approved that transaction on the condition that Prosus reduce its stake in Delivery Hero. As part of the planned acquisition, Prosus has agreed to divest its remaining Delivery Hero shares to Uber, the company said.