Delivery Hero Board Recommends Shareholders Accept Uber's €41.50 Takeover Offer
UBER sits 18% above its 52-week low of $65.41 on light trading volume (0.3× avg).
Summary
Delivery Hero's management and supervisory boards have formally recommended shareholders accept Uber's €41.50 per share cash offer, calling the price fair and adequate. The offer requires a minimum acceptance of 50% plus one share, and Uber's total economic interest would exceed 53% of Delivery Hero's current share capital. Completion is expected in the second half of 2027. This board endorsement removes a key hurdle for the $14.8B deal, which was first announced in July and is Uber's largest acquisition ever. The recommendation signals strong alignment between the target's leadership and the acquirer, increasing the likelihood of a successful tender.
At the time of this announcement, UBER was trading at $76.89 on NYSE in the Technology sector, with a market capitalization of approximately $157.1B. The 52-week trading range was $65.41 to $101.99. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Reuters.