Uber Technologies, Inc. has entered into a Business Combination Agreement to acquire Delivery Hero SE through a voluntary public takeover offer. The all-cash offer is for €41.50 per share. To finance the transaction, Uber has also entered into a bridge credit agreement for up to €14.2 billion.
Key Details
- Offer Terms: Uber, through a subsidiary, will offer €41.50 in cash for each share of Delivery Hero SE.
- Financing: The acquisition is supported by a €14.2 billion senior unsecured bridge loan commitment, intended to finance the offer, refinance certain Delivery Hero debt, and cover transaction costs.
- Conditions & Timeline: The offer is subject to regulatory approvals and a minimum tender condition of at least 50% of Delivery Hero shares plus one share. The transaction is expected to be completed in the second half of 2027.
- Termination Fees: The agreement includes a €200 million termination fee payable by Delivery Hero and a €700 million reverse termination fee payable by Uber under certain conditions, such as failure to obtain regulatory approvals.