share in delivery hero Its U.S. rival rose more than 10% on Monday morning after the Financial Times report. Uber Considered improvements to the bid for a German food delivery company.
Delivery Hero confirmed in a statement on Saturday that it had received a takeover offer from Uber of 33 euros (approximately $38.29) per share, which would give the company a market capitalization of more than 10 billion euros.
The German company added: “We remain fully focused on carrying out the strategic review process and further updates will be provided as necessary or appropriate.”
delivery hero The stock opened 10.5% higher.
The FT reported on Sunday that Uber’s board convened on Saturday to discuss improving its bid for the Berlin-based company after one of Delivery Hero’s major shareholders reportedly rejected an offer of 38 euros per share.
Last week, Delivery Hero announced that Uber had increased its stake from approximately 7% of its issued capital to approximately 19.5%, making it its largest shareholder.
Uber stock fell 2.4% on Friday’s news.
If successful, the deal would signal further consolidation in the food delivery space, following DoorDash’s acquisition of Deliveroo and Prosus’ acquisition of Just Eat last year.
