Observed Signal · May 28, 2026 · M&A · Source: Manager Magazin · Impact: 3/5 · Sentiment: Positive
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.
Significant corporate move by a major platform (Uber) to increase ownership of a large B2C delivery platform; potential to reshape competitive landscape, ownership of consumer data and strategic options for Delivery Hero and its investors.
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Key Takeaways & Evidence Grounding
- As of May 25, Uber held 24.99% of Delivery Hero's voting rights, up from 19.5%.
- Delivery Hero confirmed a non-binding offer from Uber of €33 per share over the weekend.
- The Financial Times reported Uber acquired Aspex’s stake via direct purchases and derivatives at just under €40 per share, valuing Delivery Hero at about €12 billion and indicating Uber had secured almost 37% of the company.
- Hong Kong asset manager Aspex reduced its stake in Delivery Hero from 14.55% to 7.56%.
- Delivery Hero shares rose 1.5% to €39.35; the share price nearly doubled over the prior three weeks.
Connected Companies & Entities
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Uber Raises Stake in Delivery Hero to ~7%
A Manager Magazin newsletter (17 April 2026) summarizes key business news: fitness app Strava has confidentially filed for an IPO with the U.S. regulator after growing to over 195 million users and a $2.2 billion valuation from its May 2025 funding round. Markets rallied after Iran reopened the Strait of Hormuz during a Lebanon ceasefire, weighing on oil prices while oil stocks remain strong. Volkswagen subsidiary Audi and China's SAIC will expand cooperation with four additional models and a new site for China. Prosus sold about 13.6 million Delivery Hero shares to Uber, raising Uber’s stake to roughly 7%. The German government’s Entlastungsprämie allows companies to pay employees up to €1,000 tax- and levy-free through end of 2026; the measure has drawn criticism despite benefits for employers and workers. The newsletter also notes Reed Hastings’ planned departure from Netflix’s board and increased industrial AI adoption in Germany.
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 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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