Sources: Uber weighs a higher bid after it approached a major Delivery Hero shareholder with a €38-per-share bid, valuing the group at €11.5B+, but was rebuffed

Uber is currently considering a higher bid for Delivery Hero after it approached a significant shareholder of the German food delivery company with an initial offer of €38 per share, which values the firm at over €11.5 billion. This initial bid, however, was turned down by the shareholder.

Based in San Francisco, Uber has been actively seeking to enhance its position in the food delivery market by acquiring Delivery Hero, among other ventures. The company's board convened on Saturday to deliberate the ongoing situation.

The reported refusal indicates that Uber may need to enhance its offer in order to secure a successful acquisition of the Berlin-based food delivery platform. This situation arises as Uber continues to broaden its delivery services on a global scale through a series of consolidations and acquisitions.