Uber to Acquire Delivery Hero's Foodpanda in Taiwan for $950 Million in $1.25 Billion Deal

May 14, 2024, 03:38 AM

Ride-sharing company Uber has announced plans to acquire Delivery Hero's Foodpanda business in Taiwan for $950 million in an all-cash deal. The transaction is expected to close in the first half of 2025. This acquisition could potentially create a monopoly in the Taiwanese food delivery market. Delivery Hero is involved in a $1.25 billion deal with Uber for the sale and investment. The stock symbols involved are $DHER and $UBER.