The €33-per-share proposal lands at a slight discount to Friday’s price, but with Uber already sitting on a quarter of the company and DoorDash circling, the bid is the start of the negotiation, not the end of it.
Delivery Hero confirmed on Saturday that Uber has tabled a formal takeover offer for the Berlin-based food-delivery group, at €33 a share.
The numbers, according to the company’s statement, are an indicative proposal of €33 per share to all shareholders. The Financial Times put the implied price tag at about $11bn (€10bn). Uber’s chief executive Dara Khosrowshahi flew to meet Delivery Hero’s supervisory board chair Kristin Skogen Lund in person before the bid was filed, the FT reported.
Delivery Hero, for its part, said only that it remains “fully focused” on the strategic review already underway and declined to disclose further terms.
The strategic review is the reason any of this is happening on this timeline. Several of Delivery Hero’s largest shareholders have been pressing for it for months, and chief executive Niklas Östberg, who co-founded the company in 2011, announced last week that he would step down once a successor is in place.
