Delivery Hero has confirmed it received a takeover proposal from Uber, valuing the German food delivery group at €33 per share, as Uber moves to consolidate its position in international markets.
The offer, disclosed Saturday by Delivery Hero, comes after Uber increased its stake in the company to 19.5% of issued capital, making it the largest shareholder. That stake includes a recent purchase of 4.5% from Prosus for €270 million and additional instruments that give Uber exposure to another 5.6%.
At €33 per share, Uber’s proposal is about 1.8% below Delivery Hero’s closing price on Friday, according to LSEG data. Delivery Hero said it remains focused on its ongoing strategic review and did not provide further details on the offer.
The move would give Uber a significant foothold across Asia, Latin America, and the Middle East through Delivery Hero’s brands, which include Foodpanda, Talabat, Glovo, and PedidosYa. The combined footprint spans more than 60 countries, where Uber Eats currently has limited presence.
Analysts say the bid reflects Uber’s effort to close the gap with DoorDash outside the U.S. and to strengthen margins in its delivery segment through scale. Uber One’s 50 million members could also see expanded benefits if the deal proceeds.
Delivery Hero is also undergoing a leadership transition. CEO Niklas Östberg announced earlier this month he will step down by March 2027, following pressure from shareholders for a strategic review.
Uber has stated it does not intend to raise its stake above 30%, the threshold that would trigger a mandatory tender offer under German law. Both companies have seen volatile trading this week, with Delivery Hero ADRs rising nearly 10% after reports of the talks, while Uber shares slipped about 1.7%.
Regulatory approval would be required if Uber moves to increase its holding further. The outcome could mark one of the largest consolidations in the global food delivery sector since the post-pandemic slowdown.
