Uber Launches $14.8bn Bid for Delivery Hero

Uber has launched a takeover bid for Germany’s Delivery Hero, offering €41.50 per share in a deal that values the food delivery company at about $14.8 billion.

The U.S. ride-hailing company said the acquisition would strengthen its global delivery business as competition intensifies with rivals including DoorDash and Prosus-owned Just Eat Takeaway.

Uber already owns a significant stake in Delivery Hero. The offer is conditional on securing support from shareholders representing at least 50% plus one share. Delivery Hero’s management and supervisory boards have backed the proposal. They plan to recommend it to shareholders after reviewing the formal offer document.

The companies expect the transaction to close in the second half of 2027, subject to shareholder approval and regulatory clearance.

If completed, the combined business would operate in 99 countries with a projected gross merchandise value (GMV) of $236 billion in 2025. That would make it the world’s largest food delivery platform outside China.

“Together, we’ll nearly double the number of markets where we offer both mobility and delivery services,” Uber CEO Dara Khosrowshahi said. He said the combination would create long-term value for customers and shareholders.

The acquisition would significantly expand Uber Eats across Europe, the Middle East, Asia, and Latin America. Delivery Hero owns several regional brands, including foodpanda, Glovo, Talabat, PedidosYa and HungerStation.

To address potential competition concerns, Delivery Hero has agreed to sell businesses in 14 overlapping markets to New York-based investment firm SSW Partners for about €1.4 billion. The divestment is expected to help secure regulatory approval.

Analysts expect antitrust scrutiny to be one of the biggest hurdles facing the deal. Jefferies said the planned completion date suggests regulators could conduct a lengthy review despite the agreed asset sale.

The takeover follows an earlier proposal disclosed in May that valued Delivery Hero at about €10 billion. The company rejected that offer as too low. Its shares have since risen as investors anticipated a higher bid.

“Joining forces with a strong partner now is the right move for Delivery Hero to best secure its future competitiveness,” said Supervisory Board Chair Kristin Skogen Lund.

Uber has also committed to retaining Delivery Hero’s Berlin headquarters and workforce until at least 2029. The company said it plans to invest €2 billion in Germany through 2031. It will focus on business expansion, local hiring, and autonomous vehicle partnerships.

Founded in Berlin in 2011, Delivery Hero grew into one of the world’s largest food delivery companies through a series of acquisitions. In recent years, it has exited several markets to improve profitability.

The proposed acquisition is the latest sign of consolidation in the food delivery industry. Companies are pursuing larger platforms to offset slower growth, rising operating costs, and intense competition.