Uber Technologies Inc. (NYSE:UBER) is trending after the company announced a takeover offer for Delivery Hero valued at approximately $14.8 billion, which would extend its global mobility and delivery platform to a total of 99 markets.
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Boards Back Offer, Prosus Commits Stake
Under the terms of the voluntary takeover offer, Uber will pay Delivery Hero shareholders €41.50 per share in cash, representing an equity value of $14.8 billion for 100% of the company, or $13.7 billion adjusted for Uber’s prior stake purchases. Delivery Hero’s Management Board and Supervisory Board have unanimously welcomed and intend to recommend the offer to shareholders. Prosus has irrevocably committed to tender its roughly 17% stake, bringing Uber’s total economic interest to approximately 53%.
Separately, Delivery Hero has agreed to sell businesses spanning 14 markets — where Uber Eats and Delivery Hero already overlap — to SSW Partners for approximately $1.6 billion. Uber will not control those businesses, and SSW will independently find strategic partners to position them for long-term success.
Deal Structure and Financing
The transaction is expected to be accretive to Uber’s non-GAAP EPS upon close, with high-single-digit percentage accretion by year three. Uber will fund the offer through existing cash and new debt financing, having executed a committed bridge facility of approximately €14 billion. The deal is structured to keep Uber’s gross leverage below 2x and preserve its investment-grade credit rating. Closing is expected in the second half of 2027, subject to a minimum acceptance threshold of 50% plus one share and regulatory clearances.
Why It Matters
The combination nearly doubles the number of markets where Uber offers both mobility and delivery, from 34 to 58, with cross-platform users historically generating roughly 3x the Gross Bookings and profits of single-product users. Combined pro-forma Gross Bookings totaled $236 billion in 2025. Uber has committed to retaining Delivery Hero’s Berlin headquarters and workforce until at least 2029, alongside a €2 billion investment in Germany over the next five years.
“By bringing our platforms together, we will extend affordable, reliable delivery to many millions more people in many of the world’s most dynamic economies,” said Dara Khosrowshahi, CEO of Uber.
Uber Shares Edge Higher
UBER Price Action: At the time of publication, Uber shares are trading 1.05% higher at $73.43, according to data from Benzinga Pro.
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