Uber Technologies Inc (NYSE: UBER) formally launched its cash takeover offer for Delivery Hero SE on Thursday, following approval from Germany's Federal Financial Supervisory Authority (BaFin).

Delivery Hero shareholders can now tender their shares for EUR 41.50 in cash per share. The acceptance period runs from August 27, 2026, to November 5, 2026, ending at midnight in Frankfurt or 6 pm in New York.

Offer Details

The Offer Price represents a premium of approximately 108% compared to the unaffected closing share price of Delivery Hero on May 8, 2026. It also marks a premium of approximately 127% compared to the unaffected volume-weighted average Xetra price during the three months prior to and including that date.

Settlement of the offer, including payment of the cash consideration, is expected in the second half of 2027.

Transaction Background

Uber announced its intention to launch this offer on July 16, 2026. The transaction aims to extend Uber’s multi-product platform to 99 markets. Combined pro-forma gross bookings would reach USD 236 billion in 2025.

The takeover would nearly double the number of markets where Uber offers both mobility and delivery services, increasing from 34 to 58. Delivery Hero’s management and supervisory boards are expected to support the offer in a joint statement.

Prior to launching the offer, Uber held approximately 24.77% of Delivery Hero’s issued voting share capital. It also had additional economic exposure of approximately 11.74% through equity derivatives.

Uber entered into an irrevocable undertaking with Prosus for the acceptance of the offer regarding 51,116,174 Delivery Hero shares. This stake represents approximately 16.68% of Delivery Hero’s share capital and voting rights. These holdings bring Uber’s total economic interest to approximately 53%.

Uber has committed to not entering into a Domination and Profit Transfer Agreement for a period of three years.

Conditions and Divestments

The offer is subject to a minimum acceptance threshold of 50% plus one share of Delivery Hero’s share capital, excluding treasury shares held by Delivery Hero. This calculation includes shares already owned by Uber. Other conditions include receipt of required merger control and regulatory clearances.

Delivery Hero has separately agreed to sell certain business operations in 14 markets to SSW Partners. This New York-based investment partnership has extensive experience in complex cross-border transactions. This divestment is separate from but conditional upon the closing of the offer. Uber has no influence over SSW Partners or the acquired businesses.

Market Reaction

Uber Technologies shares were trading down 0.45% at $78.13 during premarket trading on Thursday.

What the Numbers Show

Uber’s pre-offer economic interest of approximately 53% significantly exceeds the 50% plus one share minimum acceptance threshold required for the takeover. With an irrevocable undertaking covering 16.68% of voting rights from Prosus alone, the bidder starts the acceptance period with substantial control over the outcome, reducing the dependency on open-market shareholder participation to meet the statutory hurdle.

Uber Technologies Inc (NYSE: UBER) shares declined 1.36% to $79.26 on Wednesday, trading below the $81 resistance level where previous rallies have stalled.

The pullback occurs against a technical backdrop still recovering from a January death cross, where the 50-day moving average fell below the 200-day average. Despite this longer-term hesitation, short-term indicators suggest buying interest remains intact.

Technical Positioning

The stock holds above its 200-day moving average near $76.90 and sits roughly 5.7% above its 20-day average of $75.30. This positioning indicates that near-term momentum favors buyers, even as the broader trend repairs itself slowly.

The Moving Average Convergence Divergence (MACD) indicator tracks above its signal line with a positive histogram. This suggests sellers are losing ground compared to earlier declines, though the shift has not yet decisively repaired the long-term chart structure.

Support and Resistance Levels

Future price action hinges on whether Uber can sustain recent strength. Holding the zone where shares rebounded in July and pushing past the August high would maintain bullish control. Failure to protect these gains could redirect focus toward the summer base and lower support levels.

On the downside, $67 serves as a key support level tied to earlier buying interest. This sits just above the stock’s 52-week low of $65.41.

New Teen Safety Feature

Separately, Uber unveiled a new safety tool allowing parents to view real-time video feeds from drivers’ front-facing cameras during teen rides. The feature alerts both the rider and driver when a guardian accesses the stream.

Uber is piloting the tool in Atlanta, Phoenix, Orlando, San Antonio, and Cleveland. A wider nationwide expansion is planned for the coming weeks, coinciding with increased usage of teen accounts for school-related travel since the feature’s 2023 debut.