The U.S. ride-hailing company proposed €33 a share for the German food delivery firm, which said it remains focused on its strategic review

"The Company remains fully focused on executing its strategic review process."

Delivery Hero received takeover offer from Uber for €33 per share, representing 1.76% discount. Uber's stake build preceded the formal offer.

Delivery Hero said last week its U.S. rival had increased its holding to about 19.5% of issued capital from roughly 7%, becoming its largest shareholder. The stake is worth…