Uber nears $15B Delivery Hero buyout after board backing

On September 2, 2026, Delivery Hero's management and supervisory boards formally recommended that shareholders accept Uber Technologies' takeover offer, according to Reuters and Bloomberg. The move advances the roughly $15 billion acquisition of the German food-delivery platform toward completion.

Under the agreement, Uber will pay €41.50 per share, which implies an equity value of $14.8 billion. Uber already owned roughly 25% of Delivery Hero, while Delivery Hero's second-largest shareholder, Prosus, has irrevocably committed to tender its 17% stake. The shareholder acceptance period runs until November 5.

The transaction would expand Uber's delivery footprint across 99 markets and create $236 billion in pro forma gross bookings, strengthening its position against rivals DoorDash and Just Eat Takeaway. Uber expects the transaction to be accretive to non-GAAP EPS immediately upon closing, reaching high-single-digit percentage accretion by the third year.

Uber reported record second-quarter gross bookings up 22% to $58 billion, with trailing 12-month free cash flow topping $10 billion for the first time. However, Uber shares fell 5.3% after those results due to weaker bookings and earnings guidance than Wall Street expected. The transaction also faces integration complexities across diverse regulatory jurisdictions, where antitrust authorities could demand divestitures or impose conditions.