Uber Reportedly Weighs Full Takeover of European Rival Delivery Hero
UBER is trading near its 52-week low of $68.46 (5.0% above the low).
Summary
Uber is reportedly studying a full takeover of its European rival, Delivery Hero. This news follows Uber's recent increase in its stake in Delivery Hero to 19.5% on May 18th, and reports on May 19th of a potential bid up to $5.34 billion. A full acquisition would significantly expand Uber's global food delivery market share, particularly in Europe, and could have material financial and strategic implications for the company. Investors should watch for any formal announcements regarding a bid or negotiations.
At the time of this announcement, UBER was trading at $71.91 on NYSE in the Trade & Services sector, with a market capitalization of approximately $146.4B. 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.