Uber eyes higher Delivery Hero bid

Uber considers raising its offer for Delivery Hero after initial bid rejected. Shares jump 12.7%.

Today / 09:01|Last updated: Today / 09:03

Uber eyes higher Delivery Hero bid — Photo: Prepared by Bond.az

FRANKFURT/MILAN - Uber is considering a higher takeover bid for Delivery Hero after its initial offer of €33 per share was rejected, the Financial Times reported.

Delivery Hero shares surged up to 12.7% to an 18-month high, valuing the German firm at €11.5 billion ($13.4 billion). The stock has risen over 80% in 11 sessions.

Uber, already the top shareholder with a 19.5% stake, approached Delivery Hero with a fresh proposal around €38 per share, which was also rebuffed. Some shareholders seek over €40 per share.

Jefferies flagged antitrust issues as Uber and Delivery Hero overlap in 22 markets, nine in Europe.

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