Uber nears €12.5bn deal to acquire Delivery Hero, FT reports
The logo of Uber is seen at a temporary showroom at the Promenade road during the World Economic Forum (WEF) 2023, in the Alpine resort of Davos, Switzerland, January 20, 2023. REUTERS/Arnd Wiegmann
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July 15 : Uber is set to take over Delivery Hero in a deal valuing the German food delivery company at about €12.5 billion ($14.34 billion), the Financial Times reported on Wednesday.
Delivery Hero confirmed it was in advanced negotiations with Uber regarding a potential takeover offer on Tuesday.
Here are a few details on the potential deal:
• Acquiring Delivery Hero, which has a market value of roughly €11.6 billion, would expand the Uber Eats food-delivery network in Europe, the Middle East, Asia and Latin America. But the deal could attract scrutiny from antitrust regulators due to overlap in the companies’ operations.
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• Delivery Hero could announce the deal as early as Thursday, with Uber paying roughly €41 per share, the Financial Times reported, citing multiple people familiar with the matter.
• The terms and timing have not been finalized and could still change.
• Under the proposed deal, Delivery Hero will split off part of its business, selling its Turkish unit Yemeksepeti and several European operations to an investment firm, in an effort to limit geographic overlap with Uber and reduce potential antitrust scrutiny, the report said.
• Both Delivery Hero and Uber did not immediately respond to a Reuters request for comment.
• The discussions follow months of speculation over Delivery Hero’s future. Uber approached the company in May with a €38 per share offer that investors viewed as too low, according to media reports.
($1 = 0.8715 euros)
Source: Reuters
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