Delivery Hero Board Approves Uber’s $15 Billion Takeover Offer

Delivery Hero’s board has approved Uber’s $15 billion takeover offer and recommended that shareholders accept the deal, which could create one of the world’s largest on-demand food delivery platforms.

The company’s supervisory and management boards said the offer is in the best interests of Delivery Hero, its shareholders, employees, and other stakeholders. They also called the price “fair and adequate” and said the deal could accelerate product innovation.

Uber Expands Food Delivery Presence

If approved, the acquisition would expand Uber’s global delivery footprint and strengthen its position outside China, helping it compete more closely with companies such as DoorDash and Eat Takeaway.

Uber was already Delivery Hero’s largest shareholder and has set a minimum acceptance threshold of 50% plus one share of the company’s outstanding share capital.

Shareholders and Industry Consolidation

Prosus, another major shareholder, has agreed to sell its 17% stake in Delivery Hero. The company had also agreed to sell operations in 14 markets where Uber Eats already operates to SSW Partners for $1.6 billion.

The deal adds to a wider consolidation trend in food delivery. Recent moves include Uber’s acquisition agreement for Turkey-based Getir, Grab’s purchase of Delivery Hero’s Foodpanda business in Taiwan, and DoorDash’s planned $3.87 billion acquisition of Deliveroo.

The proposed Uber and Delivery Hero combination would create a larger global food delivery platform, but the transaction still requires shareholder approval before completion.