Uber launches $14.8 billion takeover bid for Delivery Hero

Uber on Thursday launched a public takeover offer for Delivery Hero that ​values the German food delivery company at around $14.8 ‌billion, as part of the US ride-hailing firm’s efforts to widen its food delivery network abroad.Uber, which has made the acquisition ​conditional on a minimum acceptance threshold of 50% plus ​one share, will offer $47.58 in cash per share.Acquiring ⁠Delivery Hero would widen the Uber Eats food-delivery network ​in Europe, the Middle East, Asia and Latin America, ​but would also attract attention from antitrust regulators given the overlap in the companies’ presence.Shares in Delivery Hero were up around 5.7% ​in premarket trading in Frankfurt after the announcement.The offer ​represents a roughly 34% premium on Delivery Hero’s three-month volume-weighted average share ‌price ⁠prior to the takeover announcement, said the company.Shares in Delivery Hero closed at €38.18 on Wednesday.As part of the agreement, Delivery Hero has agreed to sell part of its ​business covering 14 ​markets to ⁠US-based investment firm SSW Partners for about €1.4 billion.Delivery Hero on Tuesday confirmed it was in ​advanced negotiations with Uber regarding a potential ​takeover offer.Major ⁠shareholder Prosus has agreed to sell its stake of just under 17% in the food delivery company, according to ⁠Uber.Including ​derivatives, Uber had already secured a ​stake of just under 37% in Delivery Hero.($1 = 0.8722 euros)...