Delivery Hero SE confirmed on Saturday that it received a full takeover offer from Uber Technologies Inc. Uber (UBER) at €33 ($38.29) per share.

The offer represents a slight 1.76% discount to the company's most recent closing price, according to LSEG data.

Founded in 2011 and headquartered in Berlin, Delivery Hero is a multinational online food ordering and delivery platform operating across 60+ countries in Europe, Asia, Africa, Latin America and the Middle East.

Stake Build Preceded The Formal Offer

Before making the formal offer, Uber almost tripled its stake in Delivery Hero, increasing it from about 7% to roughly 19.5% of issued capital. This move made Uber the company's largest shareholder.

Delivery Hero co-founder and CEO Niklas Ostberg announced his resignation last week after several large shareholders pushed for a strategic review.

The company said it remains “fully focused” on that review but declined to disclose further terms of Uber’s offer.

The takeover bid comes as Uber expands its focus on autonomous vehicles, committing nearly $10 billion to its robotaxi program. This includes $2.5 billion in equity investments and $7.5 billion allocated for fleet expansion.

As of Feb. 10, Uber had approximately 2.06 billion shares of common stock outstanding.

What’s Going On With UBER Stock?

Days before the deal closed, Uber reported first-quarter fiscal 2027 earnings per share of $0.72, beating the $0.70 consensus estimate by 2.86%. Revenue came in at $13.20 billion, slightly below the $13.26 billion estimate, a 0.46% miss.

Uber has a market capitalization of $146.20 billion, a 52-week high of $101.99 and a 52-week low of $68.46.

The stock has fallen 18.39% over the past 12 months and 14.37% over the past six months.

MarketDash's stock rankings indicate that UBER stock is experiencing a negative price trend across all time frames.