Delivery Hero SE confirmed advanced negotiations for a potential takeover by Uber Technologies Inc. on Tuesday. Reports suggest the parties could reach a deal as early as this week. The expected offer values the German food-delivery giant above its recent trading price.
The acquisition would expand the Uber Eats network across Europe, the Middle East, Asia, and Latin America. This move follows a broader trend of consolidation within the competitive food-delivery sector.
Both companies acknowledged the discussions, though Uber declined further comment. Delivery Hero has not disclosed a potential offer price.
Delivery Hero shares rose over 5% following the announcement. Uber stock experienced a slight dip in response to the news.