Uber Proposes Delivery Hero Takeover at €10 Billion Valuation

Uber Technologies Inc. has offered to take over Delivery Hero SE in a deal that would value the German delivery company at about €10 billion ($11.6 billion) as it seeks to ramp up competition with DoorDash Inc. outside the US.

Delivery Hero received an approach from Uber for €33 per share, and “remains fully focused on executing its strategic review process,” the Berlin-based company said in a statement on Saturday. That price is three cents higher than Delivery Hero’s closing share price on Thursday, the day before Bloomberg News first reportedthe talks.

Uber, which owns 20% of Delivery Hero, ...