Uber Technologies - Billion-Euro Offer for Delivery Hero Rejected

Uber (UBER) recently increased its stake in the Berlin delivery service Delivery Hero to 19.5% (including 5.6% options). The shares came from the Dutch investment company Prosus. Despite the initial statement from management not wanting to increase the stake above 30%, this move clearly showed strategic ambitions in the European market. CEO Dara Khosrowshahi traveled to Oslo to personally present a takeover offer of €33 per share to Delivery Hero's chairwoman, Kristin Skogen Lund. This valued the company at over €11.5 billion. After the rejection,...