TLDR
- Uber is in advanced talks to acquire German food-delivery company Delivery Hero, with a deal potentially coming as soon as this week.
- Delivery Hero confirmed the talks are at an advanced stage but declined to comment on offer price speculation.
- A deal would likely value Delivery Hero well above its recent trading price of around €36 per share.
- Delivery Hero stock rose more than 5% on the news, while Uber fell nearly 3%.
- Uber had previously made a €33-per-share offer in May and raised its stake in Delivery Hero to nearly 37%.
Uber Technologies is in advanced talks to acquire Delivery Hero, the German food-delivery company, according to a Bloomberg report published Tuesday. A deal could come as soon as this week.
Delivery Hero confirmed the discussions, saying in a statement that talks are at an advanced stage. The company added it would not comment on speculation regarding the price of any offer.
Uber stock dropped nearly 3% on Tuesday following the report. Delivery Hero stock jumped more than 5%, trading at €38.93 on the Frankfurt exchange.
$UBER is reportedly in advanced talks to acquire Delivery Hero, per Bloomberg. Uber is aiming to reach an agreement as soon as this week and is reportedly planning to bid well above Delivery Hero’s recent share price.
— Wall St Engine (@wallstengine) July 14, 2026
A deal would likely value Delivery Hero well above its recent trading price of around €36 per share. The May approach from Uber valued the company at €33 per share, or roughly €10 billion ($11.38 billion).
Uber had previously approached one of Delivery Hero’s largest shareholders with an offer of €38 per share, but was turned down, according to the Financial Times.
Reuters reported that Uber raised its stake in Delivery Hero to nearly 37% from 25%, acquiring those additional holdings from fellow shareholder Aspex Management.
A Long-Running Pursuit
This acquisition attempt has been building for months. Delivery Hero first confirmed in late May that it had received a takeover offer from Uber.
That offer came in at €33 per share. The current advanced talks suggest Uber is prepared to go higher to get a deal done.
Delivery Hero, headquartered in Berlin, operates food-delivery platforms across multiple markets globally. Any transaction between the two companies would likely attract antitrust scrutiny in several jurisdictions, according to Bloomberg’s sources.
Uber declined to comment to both Bloomberg and Reuters on the reported talks.
What the Numbers Say
Delivery Hero’s stock has been trading at depressed levels relative to where a deal might land. The €36 recent trading price sits below even the original €38-per-share approach that was rejected by one major shareholder.
A final deal price above €36 would represent a premium for Delivery Hero investors. The exact figure remains unknown, as the company has declined to address pricing publicly.
Uber’s stake of nearly 37% in Delivery Hero already makes it one of the company’s largest holders. That position gives Uber meaningful influence ahead of any formal deal.
Delivery Hero’s confirmation of advanced talks on Tuesday marked the most direct public acknowledgment yet that a transaction is being seriously pursued.
Uber declined to comment when contacted by Reuters.
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