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00:02Delivery Hero shares jumped 10.5%.
00:06Monday after the Financial Times reported that Uber was weighing an improved takeover bid
00:11for the German food delivery company. According to CNBC, Delivery Hero confirmed it received an
00:17initial offer from Uber of 33 euros or $38.29 per share, which would value the company at more
00:23than 10 billion euros. The FT reported that Uber's board convened on Saturday to discuss a higher
00:29bid after a 38 euro per share offer was reportedly rejected by a major Delivery Hero shareholder.
00:36Uber had also increased its stake in Delivery Hero to about 19.5% of issued capital from
00:42roughly 7%, making it the company's largest shareholder. Uber shares fell 2.4% on the news.
00:50A successful deal would mark further consolidation in the food delivery sector
00:54following DoorDash's acquisition of Deliveroo and Process's purchase of Just Eat last year.
00:59For all things money, visit Benzinga.com.
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