Delivery Hero confirms takeover offer from rival Uber
Delivery Hero has confirmed that Uber has made a takeover offer for the company. The proposed price of €33 per share is below Delivery Hero's recent closing price, leading to speculation about a potential bidding war. Analysts suggest that the offer may not meet investor expectations, with some seeking over €40 per share.
- ▪Delivery Hero's shares surged after confirming Uber's takeover interest.
- ▪Uber has offered €33 per share for a full takeover of Delivery Hero.
- ▪The stock price jumped to €36.69, giving Delivery Hero a market value of over €11 billion.
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The Delivery Hero's logo is pictured at its headquarters in Berlin, Aug. 18, 2020. Reuters-YonhapBerlin — Shares in Delivery Hero surged on Monday after the company confirmed takeover interest from U.S. ride-hailing and food delivery giant Uber, fuelling speculation of a potential bidding war.The Berlin-based food-delivery service, which is listed on Germany’s MDAX index, said Uber had approached it with an offer of €33 ($38) per share for a full takeover. The proposed price was below Delivery Hero's closing share price on Friday.The stock jumped as much as 9 percent to €36.69 on Monday, giving the company a market value of just over €11 billion ($12.8 billion). Uber is already a significant shareholder in Delivery Hero.Analyst Giles Thorne of U.S.
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