Uber weighing higher bid for Germanys Delivery Hero: report | Latest Tech News
Uber’s board met on Saturday to talk about raising its offer for Delivery Hero after a major shareholder rebuffed Uber’s bid that would worth the German food supply group at more than 11.5 billion euros ($13.39 billion), the Financial Times reported on Sunday.
The board held a assembly in which it mentioned the standing of its takeover bid, the FT report said, citing three people acquainted with the matter.
Delivery Hero confirmed on Saturday it had obtained a takeover offer from rival Uber, valuing the company at 33 euros per share. Uber CEO Dara Khosrowshahi flew to Oslo this week to meet Delivery Hero’s supervisory board chair Kristin Skogen Lund, where he floated the 33-euros-per-share offer, according to the FT.
Uber is contemplating a higher bid for Germany’s Delivery Hero. REUTERS
Uber approached one of Delivery Hero’s largest shareholders with an offer of 38 euros per share in latest days but was rebuffed, the FT report added. The offer represented a roughly 15.3% premium over Delivery Hero’s closing price on Friday, according to GWN calculations.
Uber is now weighing whether or not to raise its bid again, the newspaper said.
Several Delivery Hero shareholders also told the FT they have been searching for a price above 40 euros per share for the entire company. DoorDash has also been circling Delivery Hero and made enquiries to shareholders but has not bought any shares, the FT report said.
Uber and Delivery Hero didn’t immediately reply to a GWN request for remark.
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