Investing.com — stock surged +10.5% to trade at €37.12 today, hitting a fresh 52-week high of €37.87 intraday, after the Berlin-based food delivery group publicly confirmed over the weekend that had submitted a formal indicative takeover proposal valuing the company at €33 per share.
Delivery Hero confirmed the €33-per-share approach on Saturday, and Uber subsequently weighed raising that offer after a major shareholder rejected the initial proposal, which had valued the group at more than €11.5 billion. Rival also expressed interest in acquiring Delivery Hero’s Middle Eastern unit and has explored a full takeover, stoking bidding-war speculation that sent the shares to their highest level since late 2024.
Before making the formal offer, Uber had nearly tripled its stake in Delivery Hero from roughly 7% to approximately 19.5% of issued capital, making it the company’s largest shareholder. Jefferies analyst Giles Thorne weighed in publicly, with some investors suggesting a price above €40 per share — representing a roughly 19% premium to the company’s recent price and valuing the group at approximately €13 billion. Any bidder will need to contend with a handful of concentrated shareholders, including with nearly 17% and activist firm Aspex Management with more than 14%, the latter having already lobbied for asset sales.
Shares hit their highest level in 18 months on Monday after Delivery Hero confirmed the indicative offer from Uber and a Financial Times report indicated the U.S. rival was considering raising the bid. The broader European market provided a constructive backdrop: European stock markets opened higher today, with the up 1.0%, driven by reports of an imminent U.S.-Iran peace deal. U.S. equity benchmarks also traded positively, with the up 0.4% and the gaining 0.6%, reflecting a broadly risk-on session globally.
The combination of a confirmed takeover approach, credible signals of a higher counter-offer, competing interest from DoorDash, and a supportive macro environment created a powerful convergence of catalysts for DHER today. The stock had already risen in each of the prior 10 consecutive trading sessions, meaning today’s move extends what has been a remarkable re-rating of the stock as M&A activity has crystallized around the company’s undervalued international delivery assets.
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