Financial Times
Uber is actively considering presenting a higher bid for Delivery Hero after its initial acquisition proposal was turned down by a prominent shareholder of the German food delivery firm.
Sources indicate that Uber's board convened on Saturday to reevaluate their strategy following the rejection. The company had proposed a bid of €38 per share, which would have valued Delivery Hero at over €11.5 billion overall.
This move signifies a ramping up of Uber's efforts to solidify its position in the competitive food delivery landscape. Notably, Uber has already increased its ownership stake in Delivery Hero to 19.5%, demonstrating a strong commitment to pursuing an outright acquisition of the Berlin-based firm.
The initial rejection implies that stakeholders at Delivery Hero consider the company's value to be greater than Uber's initial offer. With Uber now contemplating a larger bid, it is evident that the company remains resolute in its attempt to finalize the acquisition despite the preliminary setback.
The proposed transaction would mark a considerable consolidation within the global food delivery industry, combining two of the sector's major players.
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