Uber acquires Delivery Hero for US$14.8 billion, creating a global food delivery giant
The technology company announced on July 16 that it had reached an acquisition agreement with the German food delivery platform Delivery Hero to acquire all its outstanding shares at a cash price of 41.50 euros per share. The transaction valued Delivery Hero’s equity at approximately US$14.8 billion (approximately 13 billion euros), and the actual acquisition cost after deducting the shares already held by Uber was approximately US$13.7 billion. This acquisition price represents a premium of approximately 127% over Delivery Hero's three-month volume-weighted average price before the rumor was released on May 8, and a premium of approximately 34% over the three-month average price before the announcement. Delivery Hero's Management Board and Supervisory Board unanimously support the transaction and plan to recommend shareholders to accept the offer after the formal acquisition documents are released. This acquisition will integrate the two largest food delivery platforms in the world. Delivery Hero owns multiple brands such as foodpanda, talabat, Glovo, and PedidosYa, and its business covers approximately 65 countries and regions in Asia, Europe, the Middle East, Latin America, and Africa. After the merger, Uber's business territory will expand to 99 countries and regions, with total pro forma merchandise transactions reaching US$236 billion in 2025. In order to avoid antitrust scrutiny, Delivery Hero also reached an agreement with New York investment company SSW Partners to sell its business in 14 markets for approximately 1.4 billion euros, mainly covering the European and Latin American markets where Uber and Delivery Hero overlap. Uber currently directly holds approximately 24.77% of the voting shares of Delivery Hero and holds an additional economic interest of approximately 11.74% through equity derivatives. Major shareholder Prosus has signed an irrevocable commitment to include approximately 17% of its shares in the offer. Uber has pledged to keep Delivery Hero's Berlin headquarters until at least 2029 and invest about 2 billion euros in Germany by 2031. The transaction is expected to close in the second half of 2027.