Uber’s $15B Delivery Hero Takeover Gains Board Backing
The food delivery market boomed during the COVID-19 pandemic, but has been consolidating in recent years.
Delivery Hero's board has approved Uber's $15 billion takeover offer, recommending shareholders approve the deal. The acquisition aims to form one of the largest on-demand food delivery platforms globally. Delivery Hero's supervisory and management boards deemed the price fair and adequate, believing the deal could accelerate product innovation.
The merger would double Uber's global delivery footprint and position it to compete with DoorDash and Just Eat Takeaway. Prosus, another major shareholder, agreed to sell its 17% stake in Delivery Hero. Previously, Delivery Hero sold its businesses in 14 markets to New York-based SSW Partners for $1.6 billion. This consolidation follows Uber's recent acquisitions of Turkey's Getir, Taiwan's Foodpanda, and U.K.'s Deliveroo.
Written by urgent.news from TechCrunch's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Delivery Hero board backs Uber’s $15B takeover bid techcrunch.com
