Delivery Hero's Management and Supervisory Boards have endorsed Uber Technologies' $15 billion takeover offer and recommended that shareholders approve the transaction after reviewing its terms. The boards said the offer was in the best interests of the company, shareholders, employees and other stakeholders, and described the price as fair and adequate. They also said the combination had the potential to accelerate product innovation. If completed, the deal would double Uber's global delivery footprint and create one of the world's largest on-demand food-delivery platforms outside China, strengthening its position against DoorDash and Just Eat Takeaway. Uber, already Delivery Hero's largest shareholder after increasing its stake from about 7% to approximately 19.5% of issued capital, set a minimum acceptance threshold of 50% plus one share. Prosus has agreed to sell its 17% stake to Uber. To address overlap, Delivery Hero previously agreed to sell operations in 14 markets where Uber Eats already operates to New York-based SSW Partners for $1.6 billion. The transaction remains subject to regulatory approvals, shareholder acceptance requirements and the planned disposals. It follows recent sector consolidation, including Uber's agreed $335 million acquisition of Getir, Grab's $600 million purchase of Foodpanda's Taiwan business and DoorDash's $3.87 billion deal for Deliveroo.