Overview
- Uber on Thursday launched a formal €41.50-per-share cash takeover offer for Delivery Hero that Delivery Hero’s management and supervisory board have recommended and that is conditional on at least 50% plus one share and regulatory approvals with closing expected in the second half of 2027.
- Before the offer, Uber had built roughly 36–37% economic exposure in Delivery Hero and major shareholder Prosus agreed to tender its about 17% stake, which would raise Uber’s total economic interest to about 53% if the transaction completes.
- Under the agreed deal structure, Uber will acquire Delivery Hero’s businesses in about 50 markets while Delivery Hero will sell operations in 14 overlapping markets to SSW Partners for roughly €1.4–1.6 billion to reduce direct competition and help clear antitrust reviews.
- Uber has committed to keep Delivery Hero’s headquarters in Berlin, preserve local jobs through at least 2029 and invest in Germany, including a stated €2 billion pledge, and the company said it will fund the offer with a combination of cash and bridge financing disclosed in filings.
- Regulators in the EU and other jurisdictions are expected to conduct detailed merger and competition reviews, and analysts say the main risks to completion are antitrust approvals, integration of local brands and the retention of couriers, restaurants and local managers.