Uber Launches $13.5 Billion Tender Offer to Acquire Delivery Hero, Taking Control of South Korea's Baemin

According to investment banking sources, on July 16, Uber announced a public tender offer of 125 billion euros (approximately $13.5 billion) to acquire Delivery Hero (DH), the German company that owns Baemin, South Korea's leading food delivery app. The deal values DH at approximately 148 billion dollars.

On July 20, DH notified its original buyers that it was halting the separate sales process for Baemin. The acquisition encompasses DH's operations across 50 markets, including Baemin in Korea, Talabat in the Middle East, and Glovo in Europe and Africa. The transaction is expected to close in the second half of 2027, subject to regulatory approvals.