Delivery Hero’s Board Supports Uber’s Ambitious $15 Billion Acquisition Offer
The board of Delivery Hero has approved Uber’s $15 billion acquisition proposal and is advising shareholders to endorse the agreement, which would result in one of the largest global platforms for on-demand food delivery.
Following a thorough evaluation of the proposal, both Delivery Hero’s supervisory and management boards concluded that it serves the best interests of the company, its shareholders, employees, and other involved parties. They also concluded that the proposed price was “fair and adequate,” noting that the deal could significantly enhance product innovation.
If the acquisition gains approval, it would effectively double Uber’s reach around the world, positioning its delivery service among the largest globally, excluding China. This move could strengthen Uber’s competitive stance against rivals such as DoorDash and Just Eat Takeaway.
Uber, already the primary shareholder in Delivery Hero, has set a minimum acceptance requirement of 50% plus one share of the company’s total outstanding shares.
Additionally, Prosus, another significant stakeholder, has agreed to divest its 17% interest in Delivery Hero as part of this arrangement. Previously, Delivery Hero also announced the sale of its operations in 14 markets where Uber Eats is already active to SSW Partners, a New York-based investment firm, for $1.6 billion.
This merger represents the latest trend of consolidation within the on-demand delivery sector. Over the last 18 months, Uber has also agreed to purchase Turkey’s Getir for $335 million, while Grab has planned to acquire Delivery Hero’s Foodpanda unit in Taiwan for $600 million in cash. Furthermore, DoorDash has announced a deal to acquire the U.K.’s Deliveroo for $3.87 billion.
