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STOCK MARKETS

Uber and DoorDash in Talks to Buy Delivery Hero

Uber and DoorDash are in talks with Delivery Hero investors for a potential buyout. Price expected above EUR 40 per share.

Sophia Anderson
BySophia Anderson- Senior Editor
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0
Uber and DoorDash in Talks to Buy Delivery Hero
Photo: Prepared by Bond.az

Uber (NYSE: UBER) and DoorDash (NASDAQ: DASH) have held talks with investors of food delivery group Delivery Hero about a potential buyout, according to a Financial Times report on Saturday.

Citing persons familiar with the matter, the report said that multiple investors are looking for a price above EUR 40 per share, even as the company’s board is weighing either a total sale or multiple deals to spin off its Middle East and South Korea divisions.

DoorDash is mainly interested in Delivery Hero's Middle East business, including Talabat and HungerStation, the FT report added.

Meanwhile, Uber became the largest shareholder in Delivery Hero after more than doubling its stake to 19.5% last week, up from around 7%.

Delivery Hero’s CEO Niklas Oestberg announced his resignation following calls from large shareholders for a strategic review.

Shares in Delivery Hero have risen nearly 110% in Frankfurt trading over the past six months, giving the firm a market value of around €10.2 billion.

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