Delivery Hero’s management and supervisory boards have backed Uber’s approximately $14.8 billion takeover offer, moving the proposed combination closer to completion as consolidation accelerates across the global food-delivery industry. The recommendation gives Uber an important endorsement as it seeks to expand its international delivery footprint and strengthen its position against rivals in an increasingly scale-driven market.

Delivery Hero Boards Endorse Uber’s Offer

Delivery Hero announced that both its Management Board and Supervisory Board had independently reviewed Uber’s voluntary public takeover offer and concluded that it is in the best interests of the company, its shareholders, employees and other stakeholders. The boards also consider the €41.50-per-share offer price fair and adequate and have recommended that shareholders accept the proposal.

Uber agreed to acquire Delivery Hero in July, with the transaction assigning an equity value of approximately $14.8 billion to the German company. The offer represents a significant premium to Delivery Hero’s unaffected share price before acquisition discussions intensified, underscoring the strategic value Uber places on the company’s international delivery assets.

Scale Becomes Central to Uber’s Delivery Strategy

The acquisition would significantly increase Uber’s geographic reach. The combined platform would operate across 99 markets and generated approximately $236 billion in pro-forma gross bookings in 2025. Uber is expected to acquire Delivery Hero businesses in 50 markets, representing approximately $42 billion in gross bookings in 2025.

The strategic rationale extends beyond geographic expansion. Delivery Hero brings established local brands, merchant relationships and quick-commerce capabilities, while Uber contributes its global technology platform, mobility network and delivery infrastructure. The combination could allow the companies to share technology and operational capabilities while expanding the range of services available to customers, merchants and couriers.

Regulatory Conditions and Asset Sales Remain Critical

The transaction is not yet complete. Delivery Hero shareholders must decide whether to tender their shares during an acceptance period that runs through November 5, 2026, while the deal remains subject to additional regulatory and merger-control conditions. Uber has set a minimum acceptance threshold of 50% plus one share of Delivery Hero’s outstanding share capital, including shares already held by Uber.

To address overlaps between the two businesses, Delivery Hero has agreed to sell operations in 14 markets to SSW Partners for approximately $1.6 billion. Those assets include businesses in markets where Uber Eats and Delivery Hero already compete, reducing some of the potential competitive concerns surrounding the transaction.

The deal’s progress will now depend on shareholder participation, regulatory approvals and the successful separation of the overlapping operations. If completed as expected in the second half of 2027, the transaction would represent a major reshaping of the global food-delivery landscape and further strengthen the role of scale, technology and cross-market infrastructure in the sector.