Delivery Hero Jumps 10% After Confirming Uber's €33-a-Share Takeover Offer

8 articles · Updated · CNBC · May 25

Delivery Hero shares opened 10.5% higher on Monday after the company confirmed it had received a takeover offer from Uber worth €33 per share, valuing the German group at more than €10 billion.
The rally followed a Financial Times report that Uber was weighing an improved bid after a reported €38-per-share proposal was rejected by one of Delivery Hero's major shareholders.
Delivery Hero said it remains focused on its strategic review process, while Uber last week lifted its stake to about 19.5% from roughly 7%, making it the company's largest shareholder.
Uber shares had fallen 2.4% on Friday after the bid news emerged, and a successful deal would deepen consolidation in food delivery after DoorDash bought Deliveroo and Prosus acquired Just Eat last year.

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