Uber Explores Delivery Hero Asset Sales to Advance Takeover Bid
UBER is trading near its 52-week low of $67.19 (0.7% above the low) on light trading volume (0.2× avg).
Summary
Uber is reportedly sounding out potential buyers for Delivery Hero assets in regions like Latin America, Asia, and Europe. This strategic move aims to address potential antitrust concerns and smooth the path for a full takeover of Delivery Hero. The news follows a month of escalating activity, including Uber's formal $11.6 billion takeover approach and increasing its stake and voting rights in Delivery Hero, amidst resistance from other investors like Prosus. This indicates Uber's strong commitment to closing the acquisition and proactively managing regulatory hurdles for the significant deal.
At the time of this announcement, UBER was trading at $67.66 on NYSE in the Technology sector, with a market capitalization of approximately $137.7B. The 52-week trading range was $67.19 to $101.99. This news item was assessed with neutral market sentiment and an importance score of 9 out of 10. Source: Reuters.