Delivery Hero says it received a takeover offer from Uber for €33 per share, a discount of 1.76% from Delivery Hero's close on Friday
German food delivery service Delivery Hero (DHER.DE) confirmed it had received a takeover offer from rival Uber (UBER.N) valuing the company at 33 euros …
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Uber Bids €33 Per Share to Acquire Delivery Hero
Uber has made a takeover offer for German food delivery giant Delivery Hero at a slight discount to market price.
Uber is making a big play for European food delivery. The ride-hailing and delivery giant has lobbed a takeover bid at Germany's Delivery Hero, offering €33 per share for the company.
Here's the kicker — that price actually represents a 1.76% discount from Delivery Hero's closing price on Friday. Not exactly a premium that screams desperation.
Delivery Hero confirmed receiving the offer. The deal would mark a massive consolidation move in the global food delivery space, with Uber absorbing one of Europe's biggest players in the market.
No word yet on whether Delivery Hero's board finds the offer compelling enough to recommend to shareholders. A below-market bid rarely gets enthusiastic applause, but the strategic logic of combining two delivery heavyweights could push talks forward.
The ball is now firmly in Delivery Hero's court.