Uber Technologies Inc. increased its ownership in German food-delivery firm Delivery Hero to 36.83%. The company purchased a block of shares from Aspex Management, securing 24.99% of total voting rights.
Uber reportedly paid nearly €40 per share for the additional stake. This price represents a significant premium over the company's previous offer of €33 per share.
The move strengthens Uber’s position in an ongoing takeover bid to consolidate the competitive food delivery market. Analysts view the acquisition as a key strategy to scale the delivery segment for long-term profitability.
The increased investment may also serve to fend off rival interest from competitors like DoorDash. Uber appears committed to a full takeover despite the near-term costs associated with a potential bidding war.