Uber Reportedly in Talks to Acquire Food Delivery Giant Delivery Hero
Taylor Wilson
Uber is in advanced talks to acquire German food-delivery company Delivery Hero, with a deal potentially worth over $12.8 billion — a transaction that, if completed, would reshape the global food-delivery landscape.
What exactly is on the table?
Bloomberg reports, citing anonymous sources, that Uber and Delivery Hero could reach an agreement as early as this week.
Uber already holds 24.99% of Delivery Hero's shares, with derivatives bringing its total economic interest to roughly 36.8%. This means → Uber isn't starting from scratch — it's pushing an existing major-shareholder position toward full control.
Uber previously bid €33 per share, but investors considered that too low. Sources say the final valuation could land well above Delivery Hero's recent trading price of roughly €36.
What is Delivery Hero worth — and why sell now?
Delivery Hero's stock has risen about 62% year-to-date, giving it a market cap of roughly €11.2 billion (about $12.8 billion).
The company launched a strategic review under shareholder pressure: hedge fund Aspex Management pushed out founder Niklas Östberg and has lobbied for asset sales.
In plain terms = the founder was replaced by activist investors, and the company is being told to sell itself in pieces. Shareholders have lost patience with organic growth and want to cash out.
Why is the global delivery industry consolidating so fast?
Slowing growth plus intense competition are driving M&A: DoorDash agreed last year to buy UK platform Deliveroo, while Prosus completed its acquisition of Just Eat Takeaway.
This reflects an industry shift — from "burn cash to grab share" to "buy rivals to buy margins." Mid-sized independent platforms are finding it harder to survive alone.
Delivery Hero's Middle East operations have also drawn interest from DoorDash and Saudi rapid-delivery startup Ninja.
Can this deal actually close — what are the key variables?
Delivery Hero operates in more than 60 markets worldwide and overlaps with Uber across parts of Europe and the Middle East. This means → any deal will face rigorous antitrust scrutiny from regulators in multiple jurisdictions.
Sources stress that talks are ongoing; the deal could still be delayed or fall apart.
Two make-or-break variables: ① whether Uber can offer a price high enough to win over major shareholders like Prosus; ② whether antitrust regulators across multiple countries clear the transaction. Put simply = price and regulation — both have to line up.
Content is for reference only, not financial advice.