Uber’s board of directors gathered on Saturday to consider increasing their acquisition proposal for German food delivery company Delivery Hero, following rejection from a significant shareholder, according to a Financial Times report published Sunday.
The initial offer from Uber would have placed Delivery Hero’s value at more than 11.5 billion euros, equivalent to approximately $13.39 billion. However, a major shareholder turned down this proposal, prompting the ride-sharing company’s board to explore a higher bid.
Reuters has not been able to independently confirm the Financial Times report at this time.
