Uber nears €12.5 billion Delivery Hero deal

• The Financial Times reported that Uber is nearing a €41-per-share acquisition of Delivery Hero valued at about €12.5 billion.
• Delivery Hero shares were quoted 1.17% higher at €38.62 in after-hours trading following the report.
• The proposed structure would reportedly separate several overlapping operations to address potential competition concerns.

Delivery Hero confirmed advanced takeover talks with Uber Technologies (NYSE:UBER), while the Financial Times reported a €41-a-share, €12.5 billion proposal.

The reported price is about 4.9% above Tuesday’s €39.10 close, with the stated 28% premium likely measured from an earlier unaffected price.

The proposed structure would reportedly transfer Yemeksepeti and several European operations to an investment firm to reduce geographic overlap.

Delivery Hero could announce an agreement as early as Thursday, although Reuters said the terms and timing could still change.

Delivery Hero disclosed a €33 indicative approach in May, while Reuters later reported that Uber increased its proposal to €38 per share.

Uber said an acquisition would expand its food-delivery operations internationally, although overlapping markets could attract antitrust reviews.