Shares in Delivery Hero, the German-based food delivery giant, have hit an 18-month high after reports emerged that Uber, the US ride-hailing and food delivery company, is preparing to make a new bid for the business.
The news sent Delivery Hero's shares soaring, with a 7.5% increase in value, reaching a high of 33.42 EUR (26.41 GBP) per share. This represents a significant boost for the company, which has struggled in recent years due to increased competition in the food delivery market.
Delivery Hero has been the subject of several takeover bids in the past, including a rejected offer from Uber in 2020. However, the company has consistently maintained its independence, citing the need to focus on its growth strategy.
The FTSE 100 also saw a boost, with the index rising by 0.5% to 7,493.1 points, as investors speculated about the potential impact of a deal between Delivery Hero and Uber.
For UK savers, the news may be of interest, as a potential deal between the two companies could have implications for the UK's food delivery market. However, it is essential to note that the outcome of any potential deal is uncertain and may not directly affect UK savers or investors.
UK investors who may be considering investing in Delivery Hero or Uber should exercise caution and seek advice from a qualified financial adviser, as the stock market can be volatile and subject to significant fluctuations.