Uber in advanced talks on Delivery Hero takeover, Bloomberg News reports
Uber's Potential Acquisition of Delivery Hero
July 14 (Reuters) - Uber Technologies is in advanced talks to acquire German food-delivery company Delivery Hero, Bloomberg News reported on Tuesday, citing people familiar with the matter.
Negotiation Progress and Timeline
The ride-hailing company aims to reach an agreement with Delivery Hero as soon as this week, the report said.
Valuation and Share Price Details
A transaction would likely value Delivery Hero at well above its recent trading price of around €36 ($41.23) per share, according to Bloomberg.
Company Responses
Uber declined to comment on a Reuters request, while Delivery Hero did not respond immediately.
Market Reaction and Previous Offers
Shares of Delivery Hero rose more than 5% to €38.93, while Uber was down nearly 3%.
Previous Offer and Stake Increase
The food-delivery company said in May it had received a €33 offer from Uber. Reuters had reported that the U.S. company had raised its stake in Delivery Hero to nearly 37% from 25% by acquiring shares from fellow shareholder Aspex Management.
Currency Exchange Rate
($1 = 0.8731 euros)
Reporting Credits
(Reporting by Rashika Singh in Bengaluru; Editing by Vijay Kishore)
