Uber Increases Stake in Delivery Hero
Uber Increases Stake in Delivery Hero
Uber Technologies has raised its stake in Delivery Hero to 36.83%, strengthening its position in the German food-delivery company just days after making a €10 billion ($11.63 billion) takeover approach.
Details of the Stake Increase
The U.S. ride-hailing company now holds 36.83% of Delivery Hero's voting rights, up from 25.1% previously. Uber owns a direct stake of just under 25% and an additional 11.84% through financial contracts.
Market Reaction
Delivery Hero shares surged after Uber's indicative proposal of €33 per share. The company's market capitalization has doubled over the past month.
Strategic Review
Delivery Hero stated it remains focused on its strategic review. Meanwhile, Hong Kong-based Aspex Master Fund reduced its stake in Delivery Hero to around 7.56%.
Impacted Symbols
Symbols affected by this headline and their sentiment signals
Uber Technologies, Inc.
Uber strengthens its position in the European food-delivery market by increasing its stake in Delivery Hero, which could enhance its growth potential.
Delivery Hero's share price surged following Uber's takeover proposal and increased stake, with market capitalization doubling over the past month.
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