Uber Eyes Delivery Hero: Potential Mega-Deal in Food Delivery

Uber Technologies is in advanced discussions to potentially acquire Delivery Hero, a German food delivery company. This acquisition would expand Uber's food-delivery network across several continents. Shares of Delivery Hero rose following the news, despite antitrust concerns due to overlapping markets.

Delivery Hero confirmed on Tuesday that it is in advanced negotiations with Uber Technologies regarding a potential acquisition, following media reports suggesting interest from the U.S-based ride-hailing and food-delivery giant.

Bloomberg News earlier reported that Uber is nearing a deal to acquire Delivery Hero, potentially valuing the German company above its recent market price of around 36 euros per share. The Berlin-based company has seen a 62% increase in value this year, currently at 11.2 billion euros ($12.8 billion).

While Delivery Hero did not comment on the potential offer price, it did state any bid would be offered to all shareholders. Uber, declining to comment, saw its shares dip by 2%, whereas Delivery Hero's shares rose by 5.76% to 39.10 euros.