Delivery Hero says it agreed to €12.7 billion Uber takeover

German food delivery group Delivery Hero said it had agreed to be taken over by US ride-hailing company Uber in a deal worth 12.7 billion euros, or $14.6 billion.

Uber is offering 41.50 euros per Delivery Hero share. After the announcement, Delivery Hero shares were down 0.5 percent in Frankfurt, trading at 37.9 euros.

Delivery Hero was founded in 2011 and now operates in more than 60 markets. The company is one of the world's largest food delivery groups and has expanded into "quick commerce", delivering small packages to customers.

Niklas Oestberg, Delivery Hero's chief executive and co-founder, said Uber's mobility and delivery platform and what he called a shared commitment to innovation made the deal the right partnership for Delivery Hero's local food delivery and quick commerce businesses.

Uber chief executive Dara Khosrowshahi said a merger would extend delivery services to many more people in what he described as dynamic economies, while creating more opportunities for merchants and couriers.

Uber is acquiring Delivery Hero's businesses in 50 markets across Asia, Europe, Latin America and the Middle East. US investment firm SSW Partners is acquiring Delivery Hero's operations in another 14 markets, where Uber and Delivery Hero compete, for about 1.4 billion euros.

Delivery Hero said its management recommends that shareholders accept the deal. The takeover is expected to be finalised in the second half of 2027.