Uber reportedly eyes Delivery Hero takeover

Uber is weighing a full takeover of Delivery Hero, according to a Bloomberg report published on May 22, extending a push that began with a disclosed minority stake only days earlier. The report said Uber was working with advisers and speaking with other Delivery Hero investors about a possible deal. Neither company announced a transaction, and the report did not give a timeline or valuation. Delivery Hero said on May 18 that Uber had acquired additional shares and instruments, lifting its holding to 19.5% of issued capital, with a further 5.6% in options. The Berlin-based company said it welcomed the added investment as an endorsement of its platform and “Everyday App strategy.” Bloomberg reported at the time that Uber’s larger stake underscored its effort to counter DoorDash outside the United States. (bloomberg.com) ### How far has Uber already moved toward Delivery Hero? May 18 is the key date in the paper trail. Delivery Hero’s statement that day confirmed Uber’s 19.5% holding and the extra 5.6% in options. Bloomberg reported that Uber had held 7% in April, when it bought about 270 million euros, or roughly $318 million, of Delivery Hero shares from Prosus. (deliveryhero.com) Bloomberg reported on May 22 that Uber was studying ways to increase its holding further and had contacted other investors in Delivery Hero. Reuters then reported on May 23, citing the Financial Times, that Uber and DoorDash had held exploratory talks with Delivery Hero investors ahead of a possible bid and that several investors would seek more than 40 euros a share. (deliveryhero.com) ### Why is Delivery Hero the asset in play? Delivery Hero is one of the larger remaining independent delivery groups outside the United States. The company has described itself as a global local-delivery platform, and investor materials say it operates across roughly 65 countries. Its business spans restaurant delivery and quick commerce, while related listed unit Talabat gives it additional exposure in the Middle East. (bloomberg.com) Uber has its own global scale. Uber’s investor relations page says the company is available in 70 countries and had $215 billion in annualized run-rate gross bookings as of March 31, 2026. A combination would therefore join two large delivery and logistics networks with footprints across Europe, Asia and the Middle East. ### Who else is shaping the process? (deliveryhero.com) Prosus has already been part of the ownership reshuffle. Bloomberg reported that Uber’s April purchase came from Prosus, previously Delivery Hero’s biggest holder. Reuters reported on May 23 that DoorDash had also sounded out investors, suggesting the process could involve more than one interested buyer. (investor.uber.com) Aspex Management is another name in the background. ESM Magazine reported last week that Aspex had increased its stake in Delivery Hero to about 15%, adding pressure on Chief Executive Niklas Oestberg. That does not confirm support for a sale, but it identifies another significant shareholder in any future negotiations. (investors.grab.com) ### What are the main hurdles from here? Any deal large enough to give Uber control would face antitrust review in multiple jurisdictions. Reuters said investors canvassed by potential bidders were looking for a price above 40 euros a share, setting one public marker for expectations. Bloomberg’s May 22 report also said Uber was still only exploring options, which means there is no announced offer for regulators or shareholders to assess. (esmmagazine.com) June 18 is Delivery Hero’s next dated corporate milestone. The company’s investor calendar lists its annual general meeting for that day, making it the next scheduled forum where shareholders and management could be pressed on ownership, strategy or any approach. (ir.deliveryhero.com) (msn.com)