Uber Bids for Delivery Hero

Uber Technologies has launched a surprise $11.6 billion acquisition bid for Delivery Hero, a major European player in the food delivery market.

The offer, priced at €33 per share, represents a significant premium and has already triggered a 10% surge in the German company's stock value.

If successful, the deal would dramatically expand Uber's footprint across Europe and parts of Asia, consolidating its position against regional rivals.

Delivery Hero has confirmed receipt of the proposal but maintains that it remains focused on its ongoing strategic review and long-term growth objectives.