Uber in talks to buy Delivery Hero in roughly €12.5 billion deal, Financial Times says

Uber is nearing a potential acquisition of Delivery Hero in a deal that would value the German food delivery company at about €12.5 billion, the Financial Times reported, citing information published via Yahoo Finance on Wednesday. The report said Uber is in talks that could lead to a takeover, with Delivery Hero indicating the matter is at an advanced stage.

The figure referenced by the report implies a major step for Uber into or deeper within food delivery, an area that has been a competitive battleground across Europe and other regions where consumers order restaurant meals through apps. For Delivery Hero, the discussions suggest a possible path to consolidation with a larger platform operating in transportation services.

Uber, which is best known for its ride-hailing app, has also built and operated delivery offerings over time. A deal of this size would represent more than incremental expansion, aiming to bring Delivery Hero’s merchant and logistics footprint into Uber’s broader ecosystem. However, the report did not outline final commercial terms, structure, or timing beyond describing the talks as nearing completion.

Delivery Hero, according to the report, confirmed it was in advanced discussions related to a potential transaction. The company did not, in the information available through the reported excerpt, provide additional details such as the expected offer price mechanics, the form of consideration, or conditions that would need to be met before a deal could close.

Market expectations around large cross-border tech deals often hinge on regulatory review, integration costs, and the sustainability of growth in consumer ordering. In food delivery, those factors can be particularly sensitive because profitability can depend on delivery pricing, restaurant partnerships, local demand trends, and labor or partner economics. The report provided no indication of what Uber would specifically rely on to justify the valuation in the €12.5 billion range.

Uber’s reported interest in Delivery Hero also reflects how competitive pressures in last-mile delivery have pushed industry participants to seek scale and efficiency. Combining platforms can, in theory, reduce customer acquisition costs and leverage shared technology for dispatch and routing, while also expanding restaurant choice. The reported communications, as summarized, did not include any concrete synergy targets or financial guidance.

As of the publication of the report, the remaining uncertainties include whether the deal reaches a signed agreement, whether valuation and other terms change between reporting and any formal announcement, and how regulators may assess market concentration and competition. No confirmation was provided in the excerpted reporting regarding expected antitrust filings, deal timelines, or any breakup fees.