Uber Increases Delivery Hero Voting Rights to 36.83% Amid Takeover Push
UBER is trading near its 52-week low of $68.46 (3.6% above the low).
Summary
Uber Technologies has significantly increased its voting rights in Delivery Hero to 36.83%, up from 25.1%. This move comes just days after Uber made a formal $11.6 billion (10 billion-euro) takeover approach for the German food delivery company. The increased stake, which includes both direct ownership and financial contracts, strengthens Uber's position in the ongoing acquisition efforts. It also notably exceeds Uber's previous statement that it did not intend to acquire 30% or more of Delivery Hero's voting rights. Delivery Hero is currently conducting a strategic review in response to the offer.
At the time of this announcement, UBER was trading at $70.90 on NYSE in the Technology sector, with a market capitalization of approximately $144B. 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: Dow Jones Newswires.