Uber makes €10bn takeover approach for Delivery Hero
The US ride-hailing giant has built a 19.5% stake to become Delivery Hero's largest shareholder. A reported €38 per share offer was rejected, and investors expect Uber to improve its proposal as the board meets to discuss a higher bid.
May 25th 2026 · Germany
Delivery Hero shares surged over 10% on the Frankfurt Stock Exchange on Monday after the German food delivery company confirmed it had received a takeover proposal from Uber Technologies at €33 per share, which would value the company at approximately €10 billion. The Financial Times reported that Uber's board convened on Saturday to discuss improving its bid after a reported €38 per share offer was rejected by one of Delivery Hero's major shareholders, with some investors reportedly expecting a price exceeding €40 per share. Uber's shares fell 2.4% on Friday following the news. Delivery Hero stated it "remains fully focused on executing its strategic review process" and noted that Uber had increased its stake in the company to 19.5% of issued capital from approximately 7%, becoming its largest shareholder, with the potential to acquire an additional 5.6% through options. In April 2024, Uber had raised its stake to around 7% after purchasing 13.58 million shares from Prosus. The potential deal would represent further consolidation in the European food delivery sector following DoorDash's acquisition of Deliveroo and Prosus's purchase of Just Eat. The shares have gained over 60% year-to-date.