Uber Sets Sights on Acquiring Delivery Hero

Uber Technologies is in advanced negotiations to acquire German food-delivery firm Delivery Hero, with a deal potentially closing as soon as this week. The acquisition could value Delivery Hero significantly above its current trading price, following Uber's raised stake in the company earlier this year.

In a strategic move to expand its footprint, Uber Technologies is reportedly in advanced stages of negotiations to acquire Delivery Hero, a well-known German food-delivery company. This information, disclosed by Bloomberg News, suggests the deal may be finalized by the end of this week.

The acquisition, if successful, could value Delivery Hero well above its current trading price of approximately €36 per share. This potential transaction underscores Uber’s aggressive strategy in the highly competitive food-delivery sector.

Neither Uber nor Delivery Hero confirmed the talks when reached by Reuters; however, Delivery Hero shares rose by over 5% following the news, while Uber’s own stock experienced a 3% decline.