Uber Proposes Delivery Hero Takeover in €33-Per-Share Offer

Uber Technologies Inc. proposed a takeover offer to buy Delivery Hero SE stock it doesn’t already own for €33 ($38) per share as it seeks to better compete with DoorDash Inc. outside the US.

A statement from Berlin-based Delivery Hero on Saturday confirmed a Bloomberg report about Uber’s takeover interest and details subsequently reported by the Financial Times on the indicative offer, which is 1.8% below Delivery Hero’s closing price on Friday.

The German company said in a statement it “remains fully focused on executing its strategic review process,” adding that it will provide further updates “as required or appropriate.” ...