Uber Offers to Buy Delivery Hero at €10 Billion Valuation

Uber has moved deeper into global food delivery consolidation with an offer to acquire Delivery Hero SE at an estimated €10 billion valuation. The approach values the Berlin-based company at €33 per share, equal to about $38.29 per share, based on recent currency levels.

Delivery Hero confirmed the offer on May 23, 2026, while saying it remains focused on its strategic review process.

The offer comes after Uber raised its Delivery Hero stake to about 19.5% from roughly 7%, making it the company’s largest shareholder. Reuters calculated that holding at around €1.7 billion.

Uber Bid Puts Delivery Hero’s Value in Focus

€33 Per Share Offer Draws Mixed Response

Uber’s approach gives Delivery Hero a clear headline valuation, but the pricing has already drawn debate. The €33 per share proposal represented a small discount of about 1.76% to Delivery Hero’s last close, according to LSEG data cited by Reuters.

Some investors reportedly want more than €40 per share, which would lift the implied valuation closer to €13 billion. Delivery Hero shares closed at €33.59 on Friday after rising 1.9%, while the stock has gained sharply in 2026 on deal speculation.

Key numbers to watch:

• Offer price: €33 per share.
• Reported valuation: about €10 billion.
• Higher investor target: above €40 per share.
• Uber stake: about 19.5%.
• Extra options exposure: 5.6%.

Why Uber Wants Delivery Hero

Uber wants a stronger scale outside the United States, where DoorDash remains a major competitor. Delivery Hero gives access to fast-growing markets across Europe, Asia, the Middle East, and other regions.

Bloomberg Intelligence analysts previously estimated Delivery Hero could fetch between $15 billion and $18 billion in a full deal before the offer became public.

The strategic fit is clear because food delivery rewards density, brand reach, and route efficiency. A larger network can improve merchant coverage, driver utilization, and customer choice.

Delivery Hero also owns major regional assets, including Talabat in the Middle East, which has attracted separate interest from DoorDash. That makes the company more than one simple delivery platform.

Competition and Regulation Could Shape the Outcome

Food delivery consolidation has accelerated as growth slows and competition stays expensive. DoorDash agreed to buy the UK’s Deliveroo, while Prosus moved for Just Eat Takeaway.com in the Netherlands. Those deals show that large players want fewer fragmented markets and stronger regional positions.

Delivery Hero also has powerful shareholders. Prosus owns almost 17%, while activist investor Aspex Management owns more than 14%. These holders can influence the final outcome, especially if they believe asset sales may unlock more value than a full takeover.

Bottom Line

Uber’s Delivery Hero offer sets a major benchmark for the global food delivery market. The €33 per share proposal values the company near €10 billion, but shareholder expectations appear higher. We now have a clear contest between strategic value, market price, and regulatory risk.

Disclaimer:

The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.