“Delivery Hero’s board of directors and supervisory board have independently analysed and assessed the offer document published by Uber, as well as the terms and conditions of the offer,” they stated in a press release, as reported by Europa Press.

The same statement reveals that “they consider the offer to be in the best interests of the company, its shareholders, employees and other stakeholders. They therefore support the offer and recommend that Delivery Hero’s shareholders accept it”.

Delivery Hero thus agrees with Uber, which believes the deal will accelerate product innovation and create significant opportunities for the company’s business.

Shareholders of the German company will be able to accept the offer through their respective banks, and the acceptance period is due to end on 5 November. The minimum threshold for the transaction to go ahead is set at 50% plus one share.

Under the terms of the proposal, Uber will offer Delivery Hero shareholders a cash consideration of €41.50 per share, representing an 8% premium over the closing price of Delivery Hero shares on Tuesday and corresponding to a valuation of $14.8 million (€12.7 million) for the entire company.

Prior to the announcement of the takeover bid, Uber directly held approximately 24.77% of Delivery Hero’s share capital, with voting rights, and maintained an additional economic exposure of approximately 11.74% through equity-linked instruments.

This acquisition will extend the reach of the mobility and delivery platform to a total of 99 markets, with combined gross revenue of $236 million (€206 million) in 2025.