Delivery Hero boards support Uber’s $15 billion offer
Delivery Hero’s supervisory and management boards have approved Uber’s $15 billion takeover offer and recommended that shareholders accept it. The proposed transaction would create one of the world’s largest on-demand food delivery platforms and, if completed, would double Uber’s global footprint.
The boards said they considered the offer to be in the interests of Delivery Hero, its shareholders, employees and other stakeholders. They also described the price as fair and adequate, and said the deal has the potential to accelerate product innovation.
Shareholder threshold and existing backing
Uber was already Delivery Hero’s largest shareholder before making the offer. Its proposal sets a minimum acceptance condition of 50% plus one share of Delivery Hero’s outstanding share capital.
Prosus, another major shareholder, has agreed to sell its 17% Delivery Hero stake under the announced arrangement. The board recommendation and that commitment are significant steps, but shareholder acceptance at Uber’s stated threshold remains necessary for the offer to proceed.
A reshaped delivery market
If approved, the tie-up would strengthen Uber’s position against DoorDash and Just Eat Takeaway, while expanding the scale of its delivery business outside China. It follows Delivery Hero’s separate agreement to sell businesses in 14 markets where Uber Eats already operates to New York-based investment firm SSW Partners for $1.6 billion.
The transaction also follows a broader period of consolidation in on-demand delivery. Over the past 18 months, Uber agreed to acquire Turkey-based Getir for $335 million, Grab said it would acquire Delivery Hero’s Foodpanda business in Taiwan for $600 million in cash, and DoorDash said it would pay $3.87 billion for the UK’s Deliveroo.
What the deal signals for operators
Uber’s proposal comes after Uber’s pause in new European launches highlighted a pause in new European launches, while the current offer points to scale through acquisition rather than fresh market entry. The combination would bring established delivery operations into a larger platform at a time when major competitors are also pursuing consolidation.
For businesses that sell through delivery apps, the practical implication is to monitor ownership changes market by market: platform consolidation can alter the set of potential partners and the competitive landscape in which merchants, couriers and local operators work.