Uber Board Discusses Raising Bid for Delivery Hero After Initial Offer Rejected
Uber’s board met Saturday to consider increasing its takeover offer for German food-delivery company Delivery Hero after one major shareholder turned down a 38-euro-per-share proposal. Delivery Hero confirmed it received an initial offer valuing the firm at 33 euros per share.
New York PostUber’s board met on Saturday to review the status of its takeover bid for Delivery Hero after a major shareholder rejected an offer of 38 euros per share, the Financial Times reported on Sunday, citing three people familiar with the matter. Delivery Hero confirmed on Saturday that it had received a takeover offer from Uber valuing the company at 33 euros per share.
3 percent premium over Delivery Hero’s closing price on Friday, according to Reuters calculations. Uber CEO Dara Khosrowshahi flew to Oslo this week to meet Delivery Hero’s supervisory board chair Kristin Skogen Lund and presented the 33-euro-per-share proposal, the FT report said.
Uber approached one of Delivery Hero’s largest shareholders with the 38-euro-per-share offer in recent days but was rebuffed, the FT added. Several Delivery Hero shareholders told the FT they are seeking a price above 40 euros per share. DoorDash has also contacted Delivery Hero shareholders to explore interest but has not purchased any shares, according to the FT report.
Uber and Delivery Hero did not immediately respond to a Reuters request for comment.
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