Panorama
Glovo accepts Uber's acquisition offer of €12.77 billion
The board of directors of Delivery Hero, owner of Glovo, has approved Uber's offer and recommends shareholder acceptance by November 5.
Glovo, which is owned by Delivery Hero, has accepted an acquisition offer from Uber valued at €12.77 billion. The decision was approved by the company’s board of directors and will be recommended to shareholders ahead of the deadline of November 5.
The merger between the two companies would allow Uber to expand its operations into 99 markets, thereby increasing its global presence. This acquisition marks a significant step in Uber's strategy to strengthen its position in the delivery sector.
Uber's offer was initially valued at $14.8 billion, which is approximately €12.77 billion, and it includes the expansion of services currently offered by Glovo.
The deal represents a strategic move for both Uber and Glovo, aiming to enhance efficiency and the reach of delivery services across various regions.
Reactions to the merger announcement have been mixed, but the primary focus remains on the acceptance of the offer by Glovo's shareholders, who must now consider the board's recommendation. Additionally, further information regarding the agreement and its implications may emerge as the acceptance date approaches.