Delivery Hero board backs Uber’s $15B takeover bid

Delivery Hero’s board approved Uber’s $15 billion takeover offer, recommending shareholders accept the deal. The boards judged the price fair and adequate and said the merger could accelerate product innovation, doubling Uber’s global footprint and positioning it to compete with DoorDash and Just Eat Takeaway. Prosus agreed to sell its 17% stake, and Delivery Hero had previously sold its 14-market businesses to SSW Partners for $1.6 billion.