Uber in Advanced Talks to Acquire Delivery Hero, Bloomberg Reports

Uber Technologies is in advanced talks to acquire German food-delivery company Delivery Hero, with a potential agreement possible as soon as this week, according to a report from Bloomberg News citing people familiar with the matter. The move signals a major consolidation effort in the competitive global food delivery market.

The Potential Transaction

A transaction would likely value Delivery Hero at a significant premium to its recent trading price of around €36 ($41.23) per share, Bloomberg's sources indicated. While talks are in a late stage, they could still face delays or fall apart before a final agreement is reached.

Uber declined to comment on the report, and Delivery Hero did not immediately provide a response.

Market Reaction

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Investors reacted swiftly to the news on Tuesday. Shares of the Berlin-based Delivery Hero surged more than 5% to close at €38.93. In contrast, shares of Uber traded down nearly 3%, reflecting potential investor concerns about the cost and complexity of the major acquisition.

Strategic Context

The report follows a history of interest from the U.S. ride-hailing company. In May, Delivery Hero acknowledged it had received a €33 per-share offer from Uber. Furthermore, Reuters previously reported that Uber had increased its stake in the German firm to nearly 37% from 25% by acquiring shares from another major shareholder, Aspex Management, underscoring its long-term strategic interest.