New York, May 23, 2026, 12:03 EDT
- Uber closed Friday at $71.82, losing 2.43%. Shares dropped about 4.4% for the week.
- Delivery Hero said Uber has made a preliminary offer of €33 per share for a possible takeover.
- U.S. stock trading is off for the weekend and stays closed Monday for Memorial Day.
Uber Technologies shares could be in a holding pattern after Delivery Hero said Saturday it got an early takeover approach from Uber, with an indicative price of €33 per share. It’s not a firm offer. Uber stock ended at $71.82 on Friday, off 2.43% before the Memorial Day holiday.
Markets won’t trade on Saturday or Monday, May 25, with the New York Stock Exchange shut for the Memorial Day holiday. That leaves investors waiting until Tuesday for a regular session reaction.
Uber shares slipped ahead of the holiday, losing about 4.4% from $75.09 at last Friday’s close to $71.82 by May 22. In contrast, the U.S. market edged higher that Friday, with the Dow up 0.58%, S&P 500 up 0.37%, and Nasdaq up 0.19%.
Uber Technologies approached Delivery Hero with a proposal at €33 a share, according to a statement from the German company. Delivery Hero said it is still focused on its strategic review. The group added the statement is not an offer or a call to buy any securities.
Uber has boosted its stake in Delivery Hero to about 19.5% from 7%, making it the biggest shareholder in the Berlin group, Reuters said earlier this week. The €33 offer ran at about 1.76% below Delivery Hero’s closing price on Friday, Reuters also reported.
Uber’s focus on capital discipline is back in the spotlight as deal chatter picks up. CFO Balaji Krishnamurthy said earlier this month the company was investing “with conviction” in autonomous vehicles but sticking to a “capital-efficient approach.” He also pointed to AI as a growth and productivity play. Uber Investor Relations
DoorDash has spoken with Delivery Hero investors about a possible deal, according to the Financial Times report cited by Reuters. The talks focus on Delivery Hero’s Middle East operations, including Talabat and HungerStation. Food delivery remains the battleground.
Berenberg analyst Wolfgang Specht said Delivery Hero’s investment case “may have materially changed” after Uber raised its stake. He wrote that it made sense to start including value for scenarios like a possible takeover. The Business Times
Uber’s operating pace hasn’t slowed. Reporting on May 6, the company posted first-quarter trip growth of 20% from a year ago, reaching 3.6 billion trips. Gross bookings climbed 25% to $53.7 billion, and revenue came in at $13.2 billion, up 14%. Gross bookings count the platform’s total transaction values before costs and payouts.
Uber said it expects gross bookings this quarter between $56.25 billion and $57.75 billion, with non-GAAP EPS in a range of $0.78 to $0.82. These earnings numbers leave out certain accounting items and are meant as a supplementary metric. They are not a replacement for GAAP profit.
Delivery Hero could push investor patience if it makes a bigger move. Reuters reported both potential buyers might step back, and deals could run into regulatory problems. Uber said it isn’t planning to hike its stake to 30%, which would mean it has to make a mandatory offer for the rest under German rules.
Uber’s Tuesday open is set to test whether traders see the Delivery Hero move as a hunt for territory or just another expensive bet on food delivery. The focus for the week is less on the €33 price tag and more on whether investors trust Uber to add scale without giving up the profit growth that’s been powering the shares.
