Uber Delivery Hero Takeover Drives Stock Surge to 18 Month High
Shares of Delivery Hero jumped sharply after fresh takeover talk. The stock hit an 18 month high as investors reacted quickly.
Reports suggest Uber may raise its offer after an earlier bid failed. As a result, market sentiment turned strongly positive. The Uber Delivery Hero takeover story now drives momentum across the sector.
Strong Rally Boosts Valuation
Delivery Hero’s stock climbed as much as 12.7% during trading. It reached an intraday high of 37.85 euros. This surge pushed the company’s value to about €11.5 billion. In addition, shares have risen for 11 straight sessions. Over this period, the stock gained more than 80%. Therefore, investors see growing confidence in a potential deal.
Higher Bid Expectations Grow
Earlier, Uber offered €33 per share. However, Delivery Hero rejected the proposal. Later reports revealed Uber discussed raising the bid. It even approached a top shareholder with a €38 offer. Still, that offer also failed to secure support. For example, some investors now expect more than €40 per share. Delivery Hero has not added new comments. Meanwhile, Uber has stayed silent on the latest developments.
Challenges Remain Despite Optimism
Uber already holds a 19.5% stake in Delivery Hero. This makes it the largest shareholder.
However, experts warn about possible hurdles. Jefferies highlighted major antitrust concerns.
Both companies operate in 22 overlapping markets. In addition, nine of these markets are in Europe. As a result, regulators may closely review any deal. Still, investors remain hopeful about the outcome.
