Uber Technologies Inc. (NYSE:UBER) announced Thursday that it formally launched its takeover offer for Delivery Hero SE after receiving approval from Germany’s Federal Financial Supervisory Authority, or BaFin.
Uber’s indirect subsidiary published the offer document Thursday. Delivery Hero shareholders can now tender their shares for 41.50 euros each in cash.
Offer Values Delivery Hero at Steep Premium
The offer price represents a roughly 108% premium to Delivery Hero’s unaffected closing price on May 8. It also marks a 127% premium to the stock’s three-month volume-weighted average Xetra price through that date.
The acceptance period runs through Nov. 5 at midnight in Frankfurt, or 6 p.m. in New York. Delivery Hero’s management and supervisory boards are expected to support the offer in a joint statement.
Deal Would Expand Uber’s Global Reach
Uber announced its takeover plan July 16. The combined company would operate across 99 markets and would have generated $236 billion in pro forma gross bookings in 2025.
The deal would also increase the number of markets offering both Uber mobility and delivery services to 58 from 34.
Uber already owns about 24.77% of Delivery Hero’s voting shares. It also has derivative exposure equal to roughly 11.74% of the company. In addition, Prosus agreed to tender a 16.68% stake. Together, those positions give Uber an economic interest of about 53%.
The offer requires acceptance from holders representing at least 50% plus one share. It also remains subject to antitrust and other regulatory approvals.
Settlement and cash payment are expected in the second half of 2027.
UBER Price Action
UBER Price Action: Uber Technologies shares were trading down 0.45% at $78.13 during premarket trading on Thursday, according to Benzinga Pro data.
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