Uber Technologies is evaluating an increased takeover bid for Germany’s Delivery Hero. The board met to strategize after an initial €33 per share proposal was rejected. A second offer of €38 per share to a major shareholder also failed to secure a deal. Shareholders are reportedly holding out for a price exceeding €40 per share.
Uber currently holds a 19.5% equity stake in the food-delivery firm. The acquisition would strengthen Uber's global position against competitors like DoorDash. Delivery Hero shares surged to an 18-month high on news of the potential takeover.