Uber Bid for Delivery Hero Weighed by Board
Uber Bid for Delivery Hero sparked a rally as Uber's board weighs a higher approach, sending traders to watch valuation, acceptance odds and timing.
KEY TAKEAWAYS
- Uber's board met to consider raising an initial indicative takeover approach.
- Initial proposal implied about $13.4 billion valuation or roughly $36 per share.
- Delivery Hero shares surged about 10.0% to an 18-month high, raising deal odds.
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Uber Technologies Inc has advanced its bid for Delivery Hero SE after the German food delivery company confirmed on May 23, 2026, that it received an indicative, non-binding takeover proposal. Reports said Uber’s board met to consider raising the initial offer, and Delivery Hero shares surged sharply.
Deal Terms and Market Reaction
Uber, listed on the NYSE as UBER, has made an indicative approach for a full takeover of Delivery Hero, which trades on the Frankfurt exchange (DHER) and over-the-counter markets (DELHY, DLVHF). Delivery Hero confirmed receipt of the proposal but emphasized there is no certainty it will lead to a transaction [source:Delivery Hero SE – company statement].
The initial offer implied a valuation of about $13.4 billion, or roughly $36 per share. Neither company has disclosed details on the offer structure, financing, minimum acceptance thresholds, or other conditions. No formal offer under German takeover rules has been announced, and neither firm has issued new financial guidance linked to the approach.
Following the disclosure, Delivery Hero shares surged about 10%, reaching their highest level in 18 months. The stock’s rise reflected investor interest after reports that Uber’s board was considering an improved bid following pushback from at least one major shareholder.
Uber’s board reportedly met on May 23 to discuss raising the offer after the initial proposal was rejected. The timeline of public disclosures includes Delivery Hero’s statement on May 23 and subsequent press reports on May 24 and 25 detailing the bid and share-price reaction.
A potential combination would likely face regulatory scrutiny from the European Commission and national authorities such as Germany’s Bundeskartellamt and the UK Competition and Markets Authority. No antitrust filings or formal reviews have been reported so far. Uber already operates Uber Eats across Europe, and integrating Delivery Hero’s extensive delivery network could raise competition concerns that might complicate regulatory approval.
