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Delivery Hero, Parent of foodpanda, Receives Full Takeover Offer from Uber Technologies, Inc. (UBER.US) Valued at Over USD11.6B
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Delivery Hero, the Germany-based parent company of foodpanda, confirmed last Sat (23rd) that it has received a full takeover offer from ride-hailing platform Uber Technologies, Inc. (UBER.US) at EUR33 per share, valuing the company at approximately EUR10 billion (about USD11.638 billion). The offer represents a slight premium of around EUR0.03 compared with Delivery Heros closing price on the Frankfurt Stock Exchange last Thu (21st), prior to news of the bid emerging. Delivery Hero stated that the "company will continue to fully execute its strategic review process." In April this year, Uber invested EUR270 million to acquire a 4.5% stake in Delivery Hero from then-largest shareholder Prosus, raising its shareholding to about 7%. Uber subsequently increased its stake through secondary market purchases and financial instruments, further lifting its holding to 19.5%, making it the largest shareholder. Uber also holds an additional 5.6% stake in Delivery Hero in the form of options. Uber previously said it currently has no intention of increasing its stake in Delivery Hero to 30% or above, but will regularly review its investment and may further increase its stake should attractive opportunities arise. The Financial Times of the UK recently cited sources as saying that Ubers EUR33 per share offer has not been accepted by investors, as some are seeking a takeover price above EUR40 per share. (da/u) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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