A major German food delivery company announced Saturday that it has received an acquisition proposal from Uber, with the American ride-sharing giant offering 33 euros ($38.29) for each share of Delivery Hero.
The proposed price reflects a nearly 1.76% reduction from where Delivery Hero’s stock closed on Friday, based on LSEG market data.
Just one week ago, Delivery Hero revealed that the American company had expanded its ownership position to approximately 19.5% of outstanding shares, up from around 7%, establishing Uber as the German firm’s biggest shareholder. Reuters calculations indicate this stake has a value of roughly 1.7 billion euros.
The German company’s chief executive Niklas Oestberg announced his intention to resign last week, following pressure from multiple major investors calling for a comprehensive strategic evaluation.
Delivery Hero emphasized that its primary focus remains on implementing its strategic review process, though the company declined to provide further specifics regarding Uber’s acquisition proposal.
Financial news outlet Bloomberg had reported Friday that Uber was considering a complete buyout of Delivery Hero, news that caused Uber’s stock price to drop 1.6%.
The current exchange rate stands at $1 equals 0.8619 euros.
