Delivery Hero’s board has endorsed Uber’s $15 billion acquisition proposal and advised shareholders to support the transaction, which would establish one of the world’s largest on-demand food delivery platforms upon completion. Following a review of the offer, both the supervisory and management boards concluded that the deal is in the best interests of the company, its shareholders, employees, and other stakeholders. They characterized the price as “fair and adequate” and highlighted the potential for accelerated product innovation.
If approved, the acquisition would double Uber’s global presence and position its delivery platform as one of the largest outside of China, potentially enhancing Uber’s competitive standing against rivals such as DoorDash and Just Eat Takeaway. Uber, already Delivery Hero’s largest shareholder, has set a minimum acceptance threshold of 50% plus one share of Delivery Hero’s outstanding share capital. Additionally, Prosus, another significant shareholder, has agreed to divest its 17% stake in Delivery Hero. The proposed merger follows a series of recent consolidations within the on-demand delivery sector, including Uber’s acquisition of Turkey-based Getir, Grab’s purchase of Delivery Hero’s Foodpanda business in Taiwan, and DoorDash’s acquisition of the U.K.’s Deliveroo.