Delivery Hero confirms advanced takeover talks with Uber

According to information from Bloomberg, the talks center on a price of around €40 per share. The Bloomberg news agency had reported that the offer would be significantly above €36 per share. At the end of May, Uber had put forward an offer of €33 per share for Delivery Hero, but was rebuffed in light of the rising share price.

Uber's Stake in Delivery Hero

Uber only entered Delivery Hero in April and has since expanded its stake to 24.99 percent. Including derivatives, Uber has access to almost 37 percent of the shares. According to reports, Uber has already secured the stake held by investor Aspex Management.

The second-largest shareholder in Delivery Hero is the Dutch investor Prosus, with 16.8 percent. It actually has to reduce its stake to less than ten percent by late summer because of the takeover of Delivery Hero rival Just Eat Takeaway, but has asked the EU for a delay due to the changed situation.

Share Price Reacts with Fluctuations

The Delivery Hero share has already risen sharply since Uber's interest became known in May, closing trading on Tuesday evening up almost six percent at €39.10. After the news of a possible takeover offer was published, the share price rose a further 6.9 percent. On Wednesday morning, shortly after the start of trading, it lost almost two percent, falling to €38.35. In Xetra trading, Delivery Hero shares at times shed 2.3 percent to €38.18. Delivery Hero itself had no comment initially.

Antitrust Considerations

In order to avoid excessive overlaps with the business of its subsidiary "Uber Eats," which also delivers food from restaurants, Uber intends to divest the Turkish subsidiary Yemeksepeti as well as delivery services in other European countries to an investor. Uber Eats and Delivery Hero also compete in Poland, Portugal, Spain, and Sweden.

Analysts view the plan positively on the whole. The investment bank Jefferies & Company most recently rated Uber a "Buy" on 28 May 2026. Goldman Sachs and JP Morgan have also issued buy recommendations for Uber several times in recent years. Whether, and on what terms, an offer will ultimately materialize remains open.