Delivery Hero Board Approves Uber’s $15 Billion Takeover Bid
Delivery Hero's board has officially signed off on a proposed $15 billion takeover offer from Uber, recommending that shareholders approve the transaction. Major stakeholder Prosus has already agreed to sell its 17 percent stake as part of the agreement.
The board of directors at Delivery Hero has formally signed off on a proposed $15 billion takeover offer originating from Uber. Following this significant corporate decision, the board has officially recommended that Delivery Hero shareholders vote to approve the high-stakes deal.
As part of the structural conditions surrounding the proposed multi-billion-dollar transaction, Uber has established a clear minimum acceptance threshold. Under the terms of the agreement, Uber—which already maintains the status of being the largest shareholder in Delivery Hero—requires at least 50 percent, plus one share, of Delivery Hero's total outstanding share capital to tender their support for the acquisition to move forward successfully.
Significant movement among major institutional investors is already underway to facilitate the consolidation. Prosus, a prominent international technology investor, has officially agreed to sell its substantial 17 percent stake in Delivery Hero, removing a major hurdle for the prospective buyer.
In connection with the broader restructuring efforts tied to the corporate landscape, Delivery Hero previously reached a separate agreement to sell its business operations spanning 14 distinct markets to SSW Partners. Notably, these specific 14 markets overlap with regions where Uber Eats already currently maintains ongoing business operations, and that prior transaction with SSW Partners was valued at a staggering $1.6 billion.
The convergence of these strategic corporate maneuvers marks a pivotal moment for both global delivery giants as the proposed $15 billion acquisition heads toward the crucial shareholder approval phase.
