Uber is set to take over Delivery Hero in a deal valuing the German food delivery company at about €12.5 billion, the Financial Times reported. Delivery Hero confirmed it was in advanced negotiations with Uber regarding a potential takeover offer on Tuesday. The deal could be announced as early as Thursday, with Uber paying roughly €41 per share, though 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. 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.
Delivery Hero SEDelivery Hero is the target of a €12.5 billion acquisition offer at a premium to its market value.
Uber Technologies IncAcquiring Delivery Hero expands Uber Eats network across multiple regions, increasing customer base and order volume.