Uber has agreed to acquire Delivery Hero in a voluntary takeover offer valuing the Berlin-based food delivery group at €13.0 billion ($14.9 billion approximately), in what would rank among the largest deals in the global consumer tech sector.
Under the terms announced today, Uber will pay €41.50 per share in cash – a premium of approximately 34 per cent on the three-month volume-weighted average share price before today’s announcement, and roughly 127 per cent above the unaffected price prior to May 8, 2026.
The combined business would generate pro-forma gross merchandise value of $236 billion, covering operations across 99 countries.
“Delivery Hero’s talented team has built an extraordinary business, with beloved local brands and strong positions across some of the world’s fastest-growing delivery markets. By bringing our platforms together, Uber will extend affordable, reliable delivery to many millions more people in some of the world’s most dynamic economies, while creating more opportunities for merchants and couriers,” Dara Khosrowshahi, CEO of Uber said in a statement.
“We are excited about this opportunity with Uber and the possibilities it offers for our employees, shareholders, and partners. Uber’s global mobility and delivery platform and our shared commitment to innovation make this the right partnership to build on Delivery Hero’s strengths in local food delivery and Quick Commerce, and to take our Everyday App strategy further for our customers. I’m grateful to our people for building this company over 15 years, and we look forward to this great next chapter together,” Niklas Östberg, CEO and Co-Founder of Delivery Hero added.
In the GCC, the deal brings talabat – operating across the UAE, Saudi Arabia, Bahrain, Kuwait, Qatar, Oman, Iraq, Jordan, and Egypt – into the Uber fold, alongside HungerStation in Saudi Arabia. Both are among the stronger regional food delivery brands by order volume.
Not every Delivery Hero market is going to Uber. Fourteen countries where Delivery Hero and Uber Eats overlap directly will be sold separately to SSW Partners, a New York-based investment firm, for approximately €1.4 billion.
Those businesses generated €11 billion in GMV in 2025. The SSW portfolio includes Yemeksepeti in Türkiye, foodora markets in Austria, Norway, Sweden, Czechia, and Greece’s efood, among others. SSW said it intends to find permanent buyers for the assets while keeping management teams and the existing technology stack intact.
“The food delivery business is highly competitive and scale dependent. It is challenging to build from a European base, yet we have achieved an enormous amount over 15 years. Joining forces with a strong partner now is the right move for Delivery Hero to best secure its future competitiveness and ability to deliver value for all our stakeholders. The Supervisory Board has been closely involved and fully supports the proposed transaction and we appreciate Uber’s shared interest in preserving and building on the Delivery Hero strengths,” Kristin Skogen Lund, Chair of the Delivery Hero Supervisory Board further explained.
Uber has pledged to maintain Delivery Hero’s Berlin headquarters and make no changes to its workforce there until at least 2029. The company also committed to invest €2 billion in Germany through 2031, with spending directed toward its local corporate workforce, national business growth, and autonomous vehicle deployments in partnership with German carmakers.
Uber already holds a 24.77 per cent shareholding in Delivery Hero, plus instruments equivalent to 11.74 per cent of shares, and has secured irrevocable tender commitments for a further 16.68 per cent, putting its total economic interest above 53 per cent.
The offer requires acceptance from holders of at least 50 per cent of shares, plus one, as well as merger control clearance in relevant jurisdictions. Completion is expected in the second half of 2027, pending approval of the offer document by Germany’s BaFin.
