- Uber is paying roughly €41 per share for Delivery Hero
- The deal values Delivery Hero at approximately €12.5 billion
- Delivery Hero will sell its Turkish unit Yemeksepeti to an investment firm
- The acquisition would expand Uber Eats across four continents
- Antitrust regulators are expected to scrutinise the deal
Uber has been negotiating with Delivery Hero regarding a potential takeover offer, with the deal valuing the German food delivery company at approximately €12.5 billion, the Financial Times has reported. Delivery Hero confirmed it was in advanced negotiations with Uber on Tuesday, with Uber paying roughly €41 per share according to multiple people familiar with the matter. Acquiring Delivery Hero, which has a market value of roughly €11.6 billion, would expand the Uber Eats food-delivery network in Europe, the Middle East, Asia and Latin America.
The deal could attract scrutiny from antitrust regulators due to overlap in the companies’ operations. Under the proposed deal, Delivery Hero will split off part of its business, selling its Turkish unit Yemeksepeti and several European operations to an investment firm to limit geographic overlap with Uber and reduce potential antitrust scrutiny. The terms and timing have not been finalised and could still change, with Delivery Hero potentially announcing the deal as early as today.
The discussions follow months of speculation over Delivery Hero’s future, with Uber approaching the company in May with a €38 per share offer that investors viewed as too low. Both Delivery Hero and Uber did not immediately respond to a Reuters request for comment.
A representative from Delivery Hero shared: “We are in advanced negotiations with Uber regarding a potential takeover offer and will provide further updates as appropriate.”
