Uber has launched a €13bn (£11.3bn) takeover bid for Delivery Hero as it looks to dramatically expand its food delivery and rapid grocery operations around the world.
The Uber Eats owner has offered Delivery Hero investors €41.50 in cash for each share, valuing the Berlin-based company at around $14.8bn.
The offer represents a 33.8 per cent premium to Delivery Hero’s three-month average share price before the announcement.
The deal is conditional on Uber securing more than 50 per cent of Delivery Hero’s shares and receiving the necessary regulatory approvals.
Delivery Hero’s management and supervisory boards have backed the proposed tie-up and intend to recommend that shareholders accept the offer, subject to reviewing the formal offer document.
Uber has already built an economic interest of almost 37 per cent in the business through shares and other financial instruments. Delivery Hero’s largest shareholder, Prosus, has also agreed to tender its remaining stake of just under 17 per cent into the offer.
Combining the businesses would expand Uber’s operations across Europe, the Middle East, Asia and Latin America, bringing brands including foodpanda, Glovo, talabat, HungerStation and PedidosYa into the group.
The enlarged company would span 99 countries and have generated combined gross merchandise value of $236bn during 2025.
Uber chief executive Dara Khosrowshahi said Delivery Hero had built strong local brands across some of the world’s fastest-growing delivery markets.
He added that bringing the platforms together would allow Uber to reach millions more customers while creating additional opportunities for restaurants, retailers and couriers.
Delivery Hero co-founder and chief executive Niklas Östberg said the transaction represented the “right partnership” to build on the company’s food delivery and quick-commerce operations.
However, the scale of the overlap between Uber Eats and Delivery Hero is expected to attract significant scrutiny from competition regulators.
As part of the agreement, US investment firm SSW Partners will acquire Delivery Hero businesses in 14 markets where the two companies compete for approximately €1.4bn.
The operations being separated include Delivery Hero businesses in Spain, Portugal, Poland, Austria, Sweden, Norway, Chile, Ecuador, Greece, Cyprus, Romania, Moldova, Czechia and Türkiye.
Uber is set to acquire Delivery Hero operations across 50 other markets, which collectively generated $42bn in gross merchandise value last year.
The US technology giant has also pledged to retain Delivery Hero’s Berlin headquarters and make no changes to its workforce in the German capital until at least 2029.
It plans to invest €2bn in Germany over the next five years, including in its local workforce, nationwide operations and autonomous vehicle partnerships with the country’s automotive industry.
Delivery Hero shares climbed nearly six per cent following the announcement. The transaction is expected to complete during the second half of 2027, subject to shareholder and regulatory approval.
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