The board of directors of Delivery Hero, the German company that owns Glovo, approved the acquisition offer launched by Uber worth 14,800 million dollars (12,770 million euros). In a statement, the corporate bodies indicated that they independently analyzed and evaluated Uber's proposal, considering that the offer is in the best interest of the company, shareholders, employees and other stakeholders.
Uber will offer Delivery Hero shareholders a cash consideration of 41.50 euros per share, representing a premium of 8% over the closing price of the shares on Tuesday's session. Before the announcement of the public acquisition offer, Uber already directly held approximately 24.77% of Delivery Hero's voting share capital, in addition to an additional economic exposure of approximately 11.74% through equity-linked instruments.
The German company's shareholders will be able to accept the offer through their respective banking institutions, with the acceptance period expected to end on November 5. The minimum threshold for the operation to proceed is set at 50% plus one share.
With this acquisition, Uber's mobility and delivery platform will expand its reach to a total of 99 markets, with combined gross revenues of 236,000 million dollars (206,267 million euros) in 2025. Uber believes the operation will accelerate product innovation and create significant opportunities for the company's business.
