Delivery Hero's board endorses Uber's $15 billion takeover offer

Delivery Hero's board has given its backing to Uber's $15 billion acquisition offer and is urging shareholders to approve it. The combined entity would become a leading global food delivery platform, significantly expanding Uber's reach. Prosus, a major shareholder, has agreed to sell its 17% stake, and the deal needs Uber to secure a majority of shares.

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The offer requires Uber to secure at least 50 percent plus one share of Delivery Hero's outstanding capital, and Prosus has already committed its 17 percent stake to the deal. Uber's existing position as the largest shareholder gives it a head start toward that threshold. Delivery Hero's earlier agreement to sell operations in 14 markets where Uber Eats already competes—to SSW Partners for $1.6 billion—suggests