Uber Launches €41.50 Per Share Bid for Delivery Hero — Uber Technologies, Inc.

Event summary

Uber's subsidiary published an offer document for a voluntary public takeover of Delivery Hero, with a €41.50 per share cash offer representing a 108% premium over Delivery Hero's unaffected closing price on May 8, 2026.
The offer period runs from August 27, 2026, to November 5, 2026, with a minimum acceptance threshold of 50% plus one share.
Uber already holds approximately 24.77% of Delivery Hero's voting shares and has an additional 11.74% economic exposure through equity derivatives.
Delivery Hero has agreed to sell certain business operations in 14 markets to SSW Partners, conditional upon the closing of the offer.

The big picture

Uber's acquisition of Delivery Hero represents a strategic move to expand its multi-product platform to 99 markets, nearly doubling the number of markets where it can offer both mobility and delivery services. This deal underscores the ongoing consolidation in the food delivery and mobility sectors, as companies seek to enhance their market presence and operational efficiency. The combined pro-forma gross bookings of USD 236 billion in 2025 highlight the scale of the potential merger.

What we're watching

Regulatory Approval: Whether Uber can secure the necessary merger control and regulatory clearances to complete the acquisition within the expected timeline.
Shareholder Acceptance: The pace at which Delivery Hero shareholders tender their shares, given the significant premium offered by Uber.
Integration Challenges: How Uber will integrate Delivery Hero's operations and whether it can realize the expected synergies from the combined platform.