Uber to acquire Delivery Hero for €41.50/share in ~€14.2B takeover, funded by cash and debt

Filed July 16, 2026 · Period ending July 16, 2026 · ~2 min read

Key Changes

• high

  Uber entered into agreement to acquire all outstanding shares of Delivery Hero SE at €41.50/share cash ($14.8B equity value, $13.7B net of existing stake), expanding to ~100 markets globally with expected high-single-digit EPS accretion by year three.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
• high

  Transaction funded by existing cash and €14.2B senior unsecured bridge loan (364-day maturity, EURIBOR + margin with 90-day step-ups, 3.00x EBITDA/interest covenant); gross leverage expected to remain below 2x.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
• high

  Asymmetric termination fees: Uber pays Delivery Hero €700M if deal fails due to regulatory reasons (all other conditions met); Delivery Hero pays Uber €200M if boards withdraw support or accept competing offer.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →