Uber has struck a deal to absorb one of Europe’s biggest food delivery companies, and the target’s board is on board. Delivery Hero’s Management and Supervisory Boards have unanimously recommended that shareholders accept Uber’s public takeover offer of €41.50 per share, a bid that values the German company at roughly €13 billion.
How Uber got here
This deal did not arrive cleanly. Uber made an initial approach in May 2026 at €33 per share, which shareholders rejected outright, pushing for a valuation above €40. Uber came back with €41.50, a 34% premium over the three-month volume-weighted average share price prior to the announcement.
The revised number landed. Delivery Hero’s board formally backed the new offer, and critically, major shareholder Prosus committed to tendering its approximately 17% stake. That single commitment pushes Uber’s total economic interest to roughly 53%, effectively locking in majority control before the broader shareholder vote has even concluded.
Delivery Hero’s shares continue to trade at a discount to the €41.50 offer price, a gap that reflects the market’s standard uncertainty discount during long regulatory approval processes. The deal is not expected to close until the second half of 2027.
