Uber in advanced talks to acquire Delivery Hero

Uber Technologies is in advanced negotiations to acquire the German food delivery company Delivery Hero, with an agreement potentially being reached as soon as this week. The talks, confirmed by Delivery Hero on Tuesday, July 14, represent a significant step in a months-long pursuit by the ride-hailing giant to consolidate its position in the global food delivery market.

Delivery Hero stated that discussions with Uber are at an advanced stage but declined to comment on potential valuation figures. Any finalized deal is expected to value the Berlin-based company significantly above its recent trading price of around 36 euros per share. In response to the news, Delivery Hero's shares surged more than 5 percent on the Frankfurt exchange, while Uber's stock declined nearly 3 percent.

This potential acquisition follows Uber's initial proposal in May, which offered 33 euros per share. Since then, Uber has substantially increased its ownership stake in Delivery Hero. The company now holds approximately 37 percent of the company's equity, up from about 25 percent, after acquiring additional shares from co-investor Aspex Management. This large stake positions Uber as a major shareholder...