Uber is offering billions for Delivery Hero

Uber wants to acquire the German food delivery platform Delivery Hero and appears willing to pay a hefty price for it. An initial bid of 11.5 billion euros was rejected. Meanwhile, DoorDash has also expressed interest.

Wave of consolidation

According to the Financial Times, Uber—which already holds a nearly 20% stake in Delivery Hero—is said to have submitted an offer of 38 euros per share to one of the platform’s major shareholders, valuing the company at 11.5 billion euros. After that offer was rejected, Uber is reportedly considering a higher bid. One of the major shareholders of the delivery platform is Prosus, but that group must reduce its stake: after all, that was a condition for being allowed to acquire Just Eat Takeaway. Delivery Hero’s stock price is rising sharply as a result of speculation.