Uber is in advanced talks to buy Delivery Hero in a deal valuing it at about 12.5 billion euros, ($14.34 billion).

The acquisition would expand Uber Eats in Europe, the Middle East, Asia, Latin America, and other markets. Delivery Hero operates in about 70 countries.

Delivery Hero said on July 14 it was in advanced negotiations over a potential takeover offer, though the terms and timing could still change.

The offer values Delivery Hero above its current market capitalization of about 11.2 billion euros (US$12.8 billion). The company has remained loss-making on a trailing basis.

Antitrust scrutiny is likely to be an issue because Uber and Delivery Hero have overlapping food delivery operations.

European Union regulators have also increased scrutiny of consolidation in the sector after imposing 329 million euros (US$376 million) in penalties over Delivery Hero’s past conduct involving Glovo.

🔗 Source: Reuters

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