Delivery Hero's stock jumped sharply on Monday following the company's acknowledgment that it had received an indicative offer from Uber. At 08:15 GMT the share price was trading 9.7% higher at 36.85 euros, its highest closing level since late November 2024 and valuing the company at about 11.2 billion euros ($13.04 billion).
According to media reports cited by the company, Uber has signaled it may raise its proposal after one of Delivery Hero's major shareholders declined an approach that would have valued the business at above 11.5 billion euros ($13.4 billion). The report indicated Uber had offered 38 euros per share to one of Delivery Hero's largest investors in recent days, but that offer was turned down.
Sources in the report said several shareholders are seeking a price north of 40 euros per share for the whole company. The publicly disclosed market response follows those reported negotiations and investor discussions.
Separately, the same reporting noted that both Uber and DoorDash had held exploratory talks with investors in the German food delivery group over the weekend. Those discussions were described as exploratory in nature rather than definitive offers for the entire company.
Market context and immediate effects
The stock rally on Monday reflected investor reaction to the confirmation of an indicative bid and subsequent media reporting that the bidder may increase its offer. The move pushed Delivery Hero to levels not seen in roughly a year and a half as market participants priced in the possibility of renewed takeover interest.
What is clear from the disclosures
- Delivery Hero confirmed receipt of an indicative offer from Uber.
- At 08:15 GMT the stock was 9.7% higher at 36.85 euros per share, valuing the company at about 11.2 billion euros.
- Reports state Uber previously offered 38 euros per share to a major shareholder, an approach that was rejected, and that several shareholders are seeking more than 40 euros per share for the company.
The information released and reported does not include a binding takeover bid or a final agreed price, and shareholders continue to express differing views on acceptable valuation levels.