Delivery Hero board backs Uber’s $15B takeover bid

Delivery Hero’s board has endorsed Uber’s $15B offer, according to TechCrunch, giving the proposed transaction the target company’s formal backing. The recommendation does not complete the acquisition: approval steps remain before the deal can close, and the source did not provide a timetable or details on the offer’s financing and terms beyond its headline value.

The transaction would combine Uber’s existing delivery operation with Delivery Hero’s platform and create one of the world’s largest food-delivery businesses if approved. The board’s support is a change from a bid that still required a clear response from the target, but the report does not establish that shareholders, regulators or other approval authorities have signed off.

For Uber, the direct connection is its delivery business and the prospect of adding Delivery Hero’s operations to that revenue line. Uber reported FY2025 revenue of $52.0B, up 18.3% year over year, with diluted EPS of $4.73 and a 19.3% net margin, according to the provided SEC EDGAR enrichment. The new asset could broaden scale in food delivery, while also bringing integration demands and the costs associated with completing the purchase.

The principal uncertainty is that board backing is not the same as a completed deal. The available reporting does not specify the shareholder vote, regulatory review, expected closing date, financing structure or the effect on Uber’s margins and earnings. It also does not say whether competing bids or objections exist, so the range of possible outcomes remains wider than the board recommendation alone suggests.

The next hard markers are the formal transaction documents, any shareholder approval date, and regulatory decisions connected with the combination. Investors will also need Uber’s next reported results to assess whether its existing $52.0B revenue base, 18.3% growth rate and $4.73 diluted EPS can absorb the transaction without weakening profitability. Until those details are disclosed, the size of the strategic opportunity is clearer than the deal’s eventual financial contribution.