Uber has submitted a formal €13 billion cash bid for Delivery Hero, the German food-delivery group, following approval from Germany’s financial regulator BaFin.
The offer values Delivery Hero shares at €41.50 each, a 9% premium to the prior closing price of €38.34. Uber already holds a 53% stake in Delivery Hero, including a binding commitment from major shareholder Prosus, effectively securing control ahead of the transaction. Delivery Hero’s board and supervisory council are expected to endorse the bid in a joint statement.
The acceptance period runs from August 27 to November 5. The deal, which would create the world’s largest food-delivery service outside China, remains subject to antitrust clearance. To address regulatory concerns, Delivery Hero will divest operations in 14 markets to investment firm SSW Partners.
Delivery Hero also raised its full-year guidance on Thursday, projecting gross merchandise value growth of 9% to 11%. The company will continue operating independently until the deal closes, which is targeted for the second half of 2027.
The move follows persistent pressure on Delivery Hero’s profitability amid intense competition in the global food-delivery sector. Supervisory board chair Kristin Skogen Lund cited the sector’s high competitiveness and reliance on scale economies as key factors behind the decision.
