Agency: Uber in Advanced Talks to Acquire Delivery Hero

Uber Technologies is in advanced talks to acquire the German food delivery company Delivery Hero, in a deal that could be reached this week, according to sources familiar with the matter for Bloomberg.

The sources said the deal could be at a price exceeding Delivery Hero's current market value of about €11.2 billion ($12.8 billion), meaning an offer higher than the current trading price of €36 per share.

Uber currently owns 24.99% of Delivery Hero's shares, along with derivative contracts that bring its total stake in the company to 36.8%, and previously made an acquisition offer at €33 per share, but investors expect the deal to close at a higher price.

Any deal is expected to face close scrutiny from competition regulators due to overlapping operations of the two companies in several markets, especially in Europe and the Middle East, where Delivery Hero operates in more than 60 markets worldwide.

According to data available on Argaam, Delivery Hero owns 100% of Hungerstation, which is based in Saudi Arabia, and owns 80% of Talabat Holding, listed on the Dubai Financial Market with about 18.63 billion shares.

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