Uber offered €33 per share for Delivery Hero, but investors want €40+

Uber made a takeover offer for Delivery Hero valuing the German food-delivery group at €33 per share (~$38.29), below investor expectations of €40+ (~$46.41). DoorDash is also in talks, primarily targeting Delivery Hero’s Middle East operations (Talabat, HungerStation). Delivery Hero’s board is weighing a full sale versus breaking the company up and selling regional units. Uber recently increased its stake to 19.5% (≈€1.7bn). The takeover chatter pushed Uber’s shares down about 1.5–1.6% (stock down ~11% YTD, ~17% over 12 months), though Uber posted a Q1 beat (revenue $13.2bn; platform bookings $53.7bn; EPS $0.72). A deal remains uncertain and could face regulatory scrutiny.