Uber launches $14.8 billion takeover bid for – Business News
Uber on Thursday launched a public takeover offer for Delivery Hero that values the German food supply company at round $14.8 billion, as half of the US ride-hailing firm’s efforts to widen its food supply community overseas.
Uber, which has made the acquisition conditional on a minimal acceptance threshold of 50% plus one share, will offer $47.58 in money per share.
Acquiring Delivery Hero would widen the Uber Eats food-delivery community in Europe, the Middle East, Asia and Latin America, however would additionally entice consideration from antitrust regulators given the overlap within the firms’ presence.
Uber has launched a public takeover offer for Delivery Hero that values the German food supply company at round $14.8 billion. Christopher Sadowski
Shares in Delivery Hero have been up round 5.7% in premarket trading in Frankfurt after the announcement.
The offer represents a roughly 34% premium on Delivery Hero’s three-month volume-weighted average share price previous to the takeover announcement, mentioned the company.
Shares in Delivery Hero closed at €38.18 on Wednesday.
As half of the settlement, Delivery Hero has agreed to sell half of its business protecting 14 markets to US-based investment firm SSW Partners for about €1.4 billion.
Delivery Hero on Tuesday confirmed it was in superior negotiations with Uber relating to a potential takeover offer.
Acquiring Delivery Hero would widen the Uber Eats food-delivery community in Europe, the Middle East, Asia and Latin America, however would additionally entice consideration from antitrust regulators given the overlap within the firms’ presence. Timon – stock.adobe.com
Major shareholder Prosus has agreed to sell its stake of just below 17% within the food supply company, in accordance with Uber.
Including derivatives, Uber had already secured a stake of just below 37% in Delivery Hero.
($1 = 0.8722 euros)
