Delivery Hero said Thursday it backs the takeover offer from US ride-hailing giant Uber, which aims to acquire the German food delivery group, which operates in more than 50 markets across Asia, Europe, Latin America and the Middle East.
The deal gives Uber a much stronger foothold across Asia, the Middle East, Latin America and parts of Europe, including major markets such as South Korea, Italy, Saudi Arabia, the United Arab Emirates and Argentina.
Uber has agreed to offer €41.50 a share in cash for all Delivery Hero shares, valuing the German food delivery company at €13 billion ($14.8 billion).
After accounting for Uber's previously acquired stake, the transaction is worth about $13.7 billion (€12 billion), according to the company.
Berlin-based Delivery Hero was founded in 2011. The German firm now operates in more than 60 markets and is one of the world's biggest food delivery groups. It has also expanded beyond its traditional food business into "quick commerce", delivering small packages to customers.
