Uber Publishes Formal Offer Document for Delivery Hero Takeover

Investing.com··DE·Read original
4▲3 ▼0Impact / 5
Summary · why it matters

Uber has published the formal offer document for its voluntary takeover bid for Delivery Hero, after receiving approval from German financial regulator BaFin, with an acceptance period running from August 27 to November 5. Delivery Hero shareholders can tender their shares for €41.50 in cash each, a premium of about 108% to the company's unaffected closing price on May 8 and about 127% above its three-month volume-weighted average price through that date. Delivery Hero's management and supervisory boards are expected to issue a joint statement backing the offer. Uber first announced its intention on July 16, aiming to extend its multi-product platform to 99 markets with combined pro-forma gross bookings of $236 billion in 2025, and the takeover would nearly double the number of markets where Uber offers both mobility and delivery services, to 58 from 34. Ahead of the offer's launch, Uber held roughly 24.77% of Delivery Hero's voting share capital, plus additional economic exposure of about 11.74% through equity derivatives, and secured an irrevocable commitment from Prosus to tender roughly 16.68% of Delivery Hero's shares, bringing Uber's total economic interest to approximately 53%. The offer requires acceptance from more than 50% of Delivery Hero's share capital, excluding treasury shares, along with merger control clearance and other regulatory approvals. Earlier in the day, Delivery Hero raised its 2026 guidance, now expecting gross merchandise value to grow 9% to 11% this year, up from a previous forecast of 8% to 10%, and reported adjusted EBITDA of €427 million in the first half of 2026, ahead of the €396 million analysts had expected.

Impact on assets 3

Consumer Discretionary▲
Delivery Hero SE
DHER
▲ PositiveCapitalrelevance

Delivery Hero receives a takeover offer at a 108% premium, and raised 2026 guidance with strong EBITDA, boosting shareholder value.

Robotics & Physical AI▲
Uber Technologies Inc
UBER
▲ PositiveCapitalrelevance

Uber's formal offer document for Delivery Hero takeover, with regulatory approval and high premium, advances its strategic expansion.

Digital Finance & Tokenization▲
Prosus N.V.
PRX
▲ PositiveCapitalrelevance

Prosus's irrevocable commitment to tender its Delivery Hero shares supports the deal, potentially benefiting its investment value.