Observed Signal · Jul 14, 2026 · M&A · Source: Manager Magazin · Impact: 4/5 · Sentiment: Neutral
Uber nears deal to acquire Delivery Hero this week
Uber has offered €41.50 per share (about €13 billion / $14.8 billion) in an all-stock proposal to acquire Berlin-based Delivery Hero. The deal, not final, would nearly double Uber’s delivery footprint to roughly 100 markets across Europe, the Middle East, Latin America and Asia. Delivery Hero agreed to sell operations in 14 markets where Uber Eats operates to SSW Partners for $1.6 billion. Uber, already the largest shareholder with c.25% direct and ~12% more via derivatives/third parties (access to nearly 37%), has set a minimum acceptance threshold of 50% plus one share; major investor Prosus has agreed to sell about 17%. The transaction requires regulatory approval and could face antitrust scrutiny and divestment remedies. Uber pledged to keep Delivery Hero’s headquarters in Berlin and not change the local workforce until at least 2029.
A potential acquisition by a major global platform (Uber) of a large delivery company (Delivery Hero) could materially reshape competitive dynamics, consumer data access and commerce/ad inventory in European and global food-delivery markets, and may trigger antitrust-driven divestments.
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Key Takeaways & Evidence Grounding
- Uber offered €41.50 per Delivery Hero share (≈€13bn / $14.8bn) in an all-stock proposal.
- Uber already holds c.25% direct and controls ~12% more via derivatives/third parties (access to nearly 37%) and requires 50% plus one share acceptance.
- Prosus has agreed to sell roughly 17% of its Delivery Hero stake.
- Delivery Hero agreed to sell its business in 14 markets to SSW Partners for $1.6 billion.
- The transaction would nearly double Uber’s delivery footprint to ~100 markets, involves Delivery Hero’s 60+ country footprint and ~40,000 employees, is subject to regulatory review and potential antitrust-driven divestments, and includes a pledge to keep HQ and local workforce unchanged in Berlin until at least 2029.
Connected Companies & Entities
5 Entities mapped“The U.S. ride-hailing company Uber is reportedly close to a takeover offer for the Berlin food-delivery group Delivery Hero....”
“The Berlin food-delivery company Delivery Hero is the target of reported advanced takeover talks with Uber....”
“The news agency Bloomberg reported on Tuesday that the talks were far advanced, citing people familiar with the matter....”
“The article includes a Reuters byline/attribution (mje/Reuters) in reporting the item....”
“This article was published by manager magazin....”
Related Market Signals & Shifts
Recent verified developments and strategic activity across this market segment.
Uber Seeks to Acquire Delivery Hero
Uber has approached Delivery Hero with a proposal to acquire the entire food-delivery company. Delivery Hero said Uber offered €33 per share; the company’s shares had risen about 70% over two weeks to €33.59 at the Xetra close and reached €35.50 on Tradegate after-hours, implying a market value slightly above €10 billion. Uber already holds a large stake in Delivery Hero — disclosed as 19.5% of issued capital plus 5.6% in options — and has been in talks with other shareholders. Major holders cited include Prosus (~16.8%) and Aspex Management (~14.4%). Morgan Stanley was reported to hold primarily indirect exposure above 30% via financial instruments. Delivery Hero is headquartered in Berlin but no longer operates in Germany after selling its local business to Just Eat Takeaway.
Uber Raises Stake in Delivery Hero to ~25%
Uber has significantly increased its holding in German food-delivery group Delivery Hero, reporting 24.99% of voting rights as of May 25 (up from 19.5%). The move comes amid takeover interest: Delivery Hero confirmed a non‑binding offer from Uber of €33 per share over the weekend. The Financial Times reported Uber acquired Aspex’s position via direct purchases and derivatives at just under €40 per share, a valuation near €12 billion and implying Uber has secured almost 37% of the company. Delivery Hero shares rose to €39.35, and other large shareholders such as Prosus (21.8%) face regulatory constraints that require its stake to fall below 10% by August. Delivery Hero founder and CEO Niklas Östberg announced his resignation.
Uber Becomes Largest Shareholder in Delivery Hero
Uber has increased its stake in Berlin-based food delivery company Delivery Hero, becoming the largest shareholder with a 19.5% holding. Uber also holds options on an additional 5.6% of shares, which could give it a blocking minority; the company said a full takeover (e.g., boosting to 30%) is not currently intended. Delivery Hero's stock rose sharply after the disclosure, trading at €31.15 after Xetra close. The move follows an April transaction in which Uber bought shares from Prosus and reached 7.2% earlier. Prosus is required to reduce its stake in Delivery Hero to below 10% by late summer. Delivery Hero described Uber’s investment as validation of its platform strategy and said it will continue focusing on operations and exploring strategic options to create long-term shareholder value.
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