Delivery Hero Trims Conversion Prices on Two Bond Tranches as Uber Bid Enters Extra Acceptance Window
Published on 11/15/2026 at 03:20 | Editorial boerse-global.de
Delivery Hero has lowered the conversion price on two series of convertible bonds, the food-delivery group announced Wednesday, with both adjustments taking effect from Tuesday. The trigger was an acceptance event tied to Uber's takeover offer, which has now moved into an additional acceptance period running from 11 to 24 November.
The 2029 notes see their conversion price cut from EUR 183.120 to EUR 162.8712. Holders of the 2027 convertible, meanwhile, were informed of a reduction from EUR 98.00 to EUR 96.8785. Delivery Hero cited 5 November as the acceptance reference date for the changes. The company also issued notices to creditors of its convertible bonds maturing in 2027, 2028, 2029 and 2030 in connection with the Uber bid.
Uber Holds 66.56% After First Window
Uber disclosed on Tuesday, after the regular acceptance period closed, that it had been attributed 66.56% of Delivery Hero's shares and voting rights. Uber International Technologies II reported the stake and voting-rights level once the initial deadline had passed. Shareholders can still tender their stock during the additional window, which opened Wednesday, at EUR 41.50 per share.
Should investors sell immediately? Or is it worth buying Delivery Hero?
Completion of the takeover remains contingent on regulatory approvals and customary conditions. Delivery Hero continues to expect the deal to close in the second half of 2027.
Divestment Aims to Clear Antitrust Hurdles
Reuters reported Tuesday that Delivery Hero is selling businesses in 14 countries to SSW Partners for EUR 1.4 billion. The disposal is intended to head off competition-law obstacles to the Uber transaction.
On the valuation front, UBS kept Delivery Hero at "Neutral" on Wednesday and reiterated its EUR 41.50 price target. Analyst Jo Barnet-Lamb pointed to a slight decline in October in the market share of Baemin, the company's South Korean delivery platform, which partly reversed the recovery seen in September.
The stock added 0.3% on Friday to close at EUR 36.70, leaving it below Uber's offer price.
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Delivery Hero Stock: New Analysis - 15 November
Fresh Delivery Hero information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
