Explore the latest developments concerning Germany's Delivery Hero.
Germany's Delivery Hero backs €13 billion takeover by Uber
Delivery Hero said Thursday it backs the takeover offer from US ride-hailing giant Uber, which aims to acquire the German food delivery group, which operates in more than 50 markets across Asia, Europe, Latin America and the Middle East.
The deal gives Uber a much stronger foothold across Asia, the Middle East, Latin America and parts of Europe, including major markets such as South Korea, Italy, Saudi Arabia, the United Arab Emirates and Argentina.
Uber has agreed to offer €41.50 a share in cash for all Delivery Hero shares, valuing the German food delivery company at €13 billion ($14.8 billion).
After accounting for Uber's previously acquired stake, the transaction is worth about $13.7 billion (€12 billion), according to the company.
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