Uber boosts Delivery Hero stake to 24.99% amid takeover talks
UBER is trading near its 52-week low of $68.46 (2.9% above the low).
Summary
Uber has increased its stake in German food delivery company Delivery Hero to 24.99% from 19.5%, as shown in a recent regulatory filing. This follows a series of reports over the past week, culminating in Uber's formal $11.6 billion takeover approach for Delivery Hero. The increased ownership stake solidifies Uber's position as a major shareholder and potential acquirer, indicating strong commitment to the ongoing M&A discussions. Traders will be watching for further developments regarding the takeover.
At the time of this announcement, UBER was trading at $70.42 on NYSE in the Trade & Services sector, with a market capitalization of approximately $143.3B. The 52-week trading range was $68.46 to $101.99. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Reuters.