Uber just made its biggest bet ever, and it’s not on self-driving cars. The ride-hailing giant announced an agreement to acquire Delivery Hero SE for $14.8 billion in an all-cash deal, offering €41.50 per share. That price represents roughly a 34% premium to where Delivery Hero was trading before the news dropped.
The combined entity will operate across 99 countries, making it the largest food delivery platform outside of China. Their projected gross merchandise value for 2025 sits at $236 billion.
How the deal came together
Uber already held approximately 25% of Delivery Hero before this announcement, with total interest reported as high as 36.8%.
The courtship started with an indicative offer of around €33 per share back in May 2026. Delivery Hero’s board apparently wanted more, and they got it. The final price of €41.50 represents a meaningful jump from that initial figure.
