Uber bids $11 Billion for Delivery Hero

Uber Technologies has submitted an unsolicited takeover bid for European food delivery company Delivery Hero. The offer values Delivery Hero at approximately $11 billion, proposing a price of €33 per share for all outstanding shares. Delivery Hero confirmed receipt of the indicative proposal, stating that its board is currently evaluating the offer. The company emphasized its continued focus on its existing strategic priorities while considering this significant development in the competitive food delivery market. This potential acquisition could reshape the global landscape of food delivery services.