UBER · 10-Q · 2026Q3 · Full report

Delivery Hero Acquisition

Uber Technologies, Inc · 2026-11-04 · Importance 71 · Surprise 60 · In source text

On July 16, 2026, Uber agreed to launch a voluntary public takeover offer for Delivery Hero at €41.50 per share, implying an equity value of $14.8 billion for 100% of the company. The offer requires acceptance by holders of at least 50% plus one share and is subject to merger-control and financial-regulatory clearances, among other conditions; closing is expected in the second half of 2027. Uber expects to fund the offer with existing cash and new debt: it arranged €14.2 billion of bridge loan commitments and later entered into a €4.0 billion term loan agreement, whose loans will bear interest at EURIBOR plus an applicable margin. No funds had been drawn under either agreement as of September 30, 2026.

Key facts

• On July 16, 2026, Uber agreed to acquire Delivery Hero through a voluntary public takeover offer of €41.50 per share, implying an equity value of $14.8 billion for 100% of Delivery Hero. source
• On July 16, 2026, Uber executed a €14.2 billion bridge credit agreement for senior unsecured loans; on August 6, 2026, a €4.0 billion term loan reduced the bridge commitments by the same amount. source
• Uber plans to fund the Delivery Hero offer with existing cash and new debt financing. source
• The Delivery Hero takeover requires acceptance by holders of at least 50% plus one share and specified regulatory clearances; closing is expected in the second half of 2027. source
• As of September 30, 2026, Uber had drawn no funds under the Delivery Hero bridge or term loan agreements and was in compliance with their covenants. source

Impact estimates