From Morningstar: 2024-05-14 07:25:00

Delivery Hero shares surged nearly 20% after selling Foodpanda in Taiwan to Uber for $950 million. Just Eat and Deliveroo shares also rose post-deal. Morningstar analyst believes Uber’s $300 million investment in Delivery Hero at a 30% premium is positive. The deal, awaiting antitrust approval, could create a virtual monopoly in Taiwan’s food delivery market. Delivery Hero’s stock metrics are positive, with strong first quarter revenues reported. The company upgraded its growth guidance and outperformed the STOXX 600.



Read more at Morningstar: Delivery Hero Soars on Deal to Sell Taiwan Business…