Uber Technologies could reach for Delivery Hero. The now largest shareholder is examining the possibility of a complete takeover, according to Bloomberg.
Uber also spoke to other Delivery Hero shareholders.
A spokesperson for Delivery Hero declined to comment on the report when contacted by Dow Jones Newswires. There was no immediate comment from Uber.
Uber Technologies recently massively expanded its stake in Delivery Hero. On Monday it was reported in a mandatory announcement that Uber now has a direct stake of 19.5 percent and that it has secured access to a further 5.6 percent through options. This means that Uber has 25.1 percent of the voting rights.
Also on Monday, Uber announced that there was currently no intention to acquire 30 percent or more of the voting rights. It is also not intended to influence the composition of administrative, management and supervisory bodies that goes beyond the usual exercise of voting rights.
Delivery Hero’s other major shareholders include Hong Kong-based Aspex Management with 14.55 percent and Prosus with 16.83 percent. As part of its takeover of Just Eat Takeaway.com 2025, a competitor of Delivery Hero and Uber, Prosus was required by the EU to sell the majority of its stake within 12 months.
It could become necessary for Uber to obtain approval from the antitrust authorities before certain investment thresholds are exceeded, Bloomberg reports. The sources cited by the agency also said that considerations were ongoing and there was no certainty of a deal.
Delivery Hero is currently valued at over 10 billion euros on the stock exchange.
In after-hours trading on Friday, Delivery Hero’s price on Tradegate was seen to be a good 7 percent above the XETRA closing price. Uber temporarily fell 2.12 percent to $72.05 on the NYSE.
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