Shares in Delivery Hero rose by over 10% on Monday morning after a report that U.S. rival Uber is considering a higher bid for the German food delivery company.
Delivery Hero announced on Saturday that it has received a takeover bid from Uber at €33 ($38.29) per share, valuing the company’s market cap at over €10 billion.
The company stated that it “remains fully focused on executing its strategic review process, with further updates to be provided as needed or appropriate.”
Delivery Hero announced last week that Uber increased its stake to approximately 19.5% of issued capital from about 7%, making it its largest shareholder. Shares in Uber dropped 2.4% following the announcement.
If the deal is successful, it would signify further consolidation in the food delivery industry, following DoorDash’s acquisition of Deliveroo and Prosus’s purchase of Just Eat last year.
By CEO NA Editorial Staff
