Investing.com — Delivery Hero shares reached the highest level in 18 months on Monday after the German food delivery company disclosed it received an indicative offer from , with a Financial Times report suggesting the U.S. company may increase its bid.
The stock traded 10.1% higher at 36.99 euros per share at 08:45 GMT, marking its strongest level since late November 2024. The rally valued Delivery Hero at 11.2 billion euros ($13.04 billion).
The Financial Times reported that Uber is considering a higher offer for Delivery Hero after a major shareholder rejected a bid valuing the company at more than 11.5 billion euros ($13.4 billion).
According to the report, Uber approached one of Delivery Hero’s largest shareholders in recent days with an offer of 38 euros per share, which was turned down. Several Delivery Hero shareholders are seeking a price above 40 euros per share for the entire company, the report said.
“We expect antitrust hurdles in a potential deal considering Uber and overlap in 17 markets (albeit perhaps there are alternative buyers for some overlapping markets),” Citi analyst Monique Pollard wrote in a Monday note.
On Saturday, the Financial Times reported that Uber and DoorDash held exploratory discussions with investors in the German food delivery group.