Uber Technologies has made a $14.8 billion cash offer to acquire German food delivery company Delivery Hero. This strategic deal aims to expand Uber's global footprint across 99 countries. The acquisition is pending regulatory and shareholder approvals, with completion targeted for late 2027.
Uber Technologies has announced a voluntary public takeover offer to acquire the German food delivery platform Delivery Hero for $14.8 billion. This all-cash proposal follows Uber's existing investment in the company and seeks to unify a massive global delivery network under one entity. After adjusting for Uber's current shareholding, the net value of the deal is approximately $13.7 billion.
The offer is priced at €41.50 per Delivery Hero share, which represents a 34% premium over the company’s average stock price during the three-month period before rumors of the deal began circulating. The company expects the transaction to conclude by late 2027, provided it clears necessary regulatory hurdles and receives sufficient support from shareholders.
Expanding Global Market Presence
If the acquisition is successful, Uber’s delivery services will span 99 countries, reinforcing its standing as a major delivery platform globally, excluding China. The combined operations are expected to process roughly $236 billion in Gross Merchandise Value by 2025. Currently, Uber offers both ride-hailing and food delivery in 34 countries, and this merger would expand that dual-service presence to 58 markets. Internal company research suggests that users who access both services tend to show higher engagement and spending levels.
Strategic Commitments and Ownership Structure
Uber already holds a 24.77% voting stake in Delivery Hero, along with additional economic exposure via derivatives. A key factor in the deal's path forward is that investment firm Prosus has agreed to tender its 17% stake, which would bring Uber’s total economic interest to approximately 53% even before the final closure.
To navigate potential antitrust concerns, the companies plan to divest specific business units across 14 different markets to SSW Partners. Uber has also committed to several operational conditions, including a three-year freeze on any Domination and Profit Transfer Agreement. Furthermore, the company plans to invest €2 billion into Germany over the next five years and intends to keep Delivery Hero’s headquarters and staff in Berlin until at least 2029. Both the management and supervisory boards of Delivery Hero have expressed their full support for the offer.
For investors, the primary monitorables moving forward will be the status of antitrust and competition regulatory approvals across the numerous jurisdictions where both companies operate. Additionally, stakeholders will likely watch the integration process of brands such as foodpanda, talabat, and Glovo into the broader Uber platform to see if the projected efficiencies and spending habits materialize as expected.