Delivery Hero

Food Delivery · On-Demand · M&A

Acquisition

Delivery Hero board endorses Uber's $14.8B takeover offer

Under German takeover rules, a board's formal endorsement is what typically decides how many shareholders actually tender their shares.

• Delivery Hero's management and supervisory boards published a joint reasoned statement on September 2, 2026 recommending shareholders accept Uber's takeover offer of €41.50 per share, valuing the company at about $14.8 billion.
• Berlin-based Delivery Hero operates food and grocery delivery brands across more than 60 markets, making it one of the world's largest on-demand delivery groups.
• Uber quietly built its Delivery Hero stake from about 7% to roughly 19.5% before bidding, becoming the top shareholder; an early €33-per-share offer (~$11.6B) was later topped after a €38 proposal was rejected by a major holder.
• Prosus agreed to sell its 17% Delivery Hero stake into the deal, and Uber set a minimum acceptance threshold of 50% plus one share, with the offer period closing November 5, 2026.
• Delivery Hero separately agreed to sell its businesses in 14 markets where Uber Eats already operates to New York-based SSW Partners for $1.6 billion, a move that likely eases antitrust overlap concerns.
• The tie-up extends an 18-month consolidation wave in food delivery: Uber bought Turkey's Getir for $335M, Grab agreed to buy Delivery Hero's Taiwan Foodpanda business for $600M, and DoorDash struck a $3.87B deal for Deliveroo.
• Combining the two platforms would roughly double Uber's global delivery footprint, creating one of the largest on-demand food platforms outside China and sharpening its competitive position against DoorDash and Just Eat Takeaway.