Shares of Delivery Hero SE surged on market reaction to reports that Uber Technologies Inc. is engaged in advanced takeover talks. The stock jumped 5.5% immediately after the report, while Uber's shares moved lower by about 2% on the same headline.
Market reaction and timing
According to people familiar with the matter, Uber is looking to finalise an agreement with Delivery Hero as soon as this week. The report indicates that discussions are at an advanced stage, prompting a notable intraday move in Delivery Hero's share price.
Potential valuation and recent trading levels
Those same sources said a transaction would probably value the German company well above its recent trading price, which has been around 36 per share. Market participants noted that Uber had previously approached Delivery Hero with an offer of 33 per share, and investors have been positioning for a higher bid to clinch any deal.
Existing ownership stakes
Uber has already accumulated a 24.99% direct stake in Delivery Hero and holds derivatives that increase its total economic interest to approximately 36.8%. The size of that combined position underscores the strategic nature of the talks as reported.
Share performance and market value
Delivery Hero's equity has been a strong performer this year, rising roughly 62% year-to-date. That gain places the company's market capitalisation at about 11.2 billion, equivalent to approximately $12.8 billion. The Amsterdam-listed investment firm Prosus NV is also identified as a significant holder of Delivery Hero shares.
Investor expectations and deal dynamics
Market commentary reflected an expectation that any binding agreement would require a price above the 33-per-share approach previously made by Uber. The reported advanced stage of talks and Uber's existing stake are central facts driving investor attention.
This report presents the details that were made public by people familiar with the negotiations. No definitive agreement has been announced in the public domain within the material provided.