Uber in Advanced Talks to Acquire Delivery Hero in Major Food Delivery Deal

Delivery Hero confirms advanced takeover negotiations with Uber Technologies

Berlin, July 15

"Based on recent rumors in the market, Delivery Hero SE confirms advanced negotiations with Uber Technologies, Inc. with respect of a potential takeover offer to all shareholders of the Company. Delivery Hero does not comment on speculations regarding an offer price," the company said.

The company clarified that the current announcement is made for informational purposes only. It does not constitute an offer to purchase securities of Delivery Hero or any of its subsidiaries.

"This announcement is made for informational purposes only and does not constitute an offer of, or a solicitation of an offer to purchase, securities of Delivery Hero SE or of any of its subsidiaries," the company mentioned.

The development follows an increase in Uber's ownership stake in the company earlier this year. In May, Delivery Hero noted that Uber acquired additional shares and instruments, bringing its ownership to 19.5 per cent of the company's issued capital, along with a further 5.6 per cent in options.

According to a Delivery Hero release, the company welcomed the increased stake as a validation of its corporate direction.

"Delivery Hero welcomes Uber's additional investment as a further endorsement of its platform and Everyday App strategy," the company stated in the release.

The firm indicated that its internal operations and broader financial objectives remain unchanged despite the ongoing discussions with the American ride-hailing and delivery giant.

"The Company remains focused on driving operational performance and executing on the strategic review to deliver long-term value for all shareholders," Delivery Hero added.

— ANI