Delivery Hero Confirms Uber Takeover Approach, Citing €33 Per Share Offer
UBER is trading near its 52-week low of $68.46 (5.0% above the low).
Summary
Delivery Hero has confirmed that Uber Technologies has approached it with a potential takeover offer, including an indicative proposal of €33 per share. This follows Uber's recent increase in its stake in Delivery Hero to 19.5% and reports that Uber was studying a full acquisition. The confirmation from the target company and the specific per-share offer represent a significant development in a potential multi-billion dollar acquisition, which would materially expand Uber's global food delivery operations. The market will now watch for further negotiations and a definitive agreement.
At the time of this announcement, UBER was trading at $71.89 on NYSE in the Technology sector, with a market capitalization of approximately $146.2B. The 52-week trading range was $68.46 to $101.99. This news item was assessed with neutral market sentiment and an importance score of 9 out of 10. Source: Reuters.