Delivery Hero board backs Uber’s $15B takeover bid
Delivery Hero's board has approved a $15 billion takeover bid from Uber, aiming to create a dominant global on-demand food delivery platform. The deal is expected to help Uber compete more effectively against rivals like DoorDash and Just Eat Takeaway.
Why it matters
This acquisition represents significant consolidation in the global gig economy and food delivery sector, potentially reshaping market competition.
Delivery Hero’s board has signed off on Uber’s $15 billion takeover offer and recommended shareholders approve the deal, which would create one the largest on-demand food delivery platforms in the world.
After reviewing the offer, Delivery Hero’s supervisory and management boards said it was in the best interests of the company, its shareholders, employees, and other stakeholders. The boards also deemed that the price was “fair and adequate” and said the deal had the “potential to accelerate product innovation.”
The deal, if approved, would double Uber’s global footprint and make its delivery platform one of the largest in the world outside of China. It could also put Uber in a better position to compete with DoorDash and Just Eat Takeaway.
Uber, which was already the largest shareholder in Delivery Hero, set a minimum acceptance threshold of 50%, plus one share of Delivery Hero’s outstanding share capital.
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