Delivery Hero

After an internally planned succession, founder Niklas Östberg continues to serve as chairman and CEO of Delivery Hero. Activist investors sold shares, so a vote of no confidence and the planned replacement were not carried out. Uber intends to acquire Delivery Hero for up to €13 billion and has already secured a majority of the shares; the headquarters in Berlin and the workforce will remain at least until 2029. Delivery Hero has not yet made profits; Östberg now intends to lead the company into its next phase. » More on faz.net

Delivery Hero has lowered the interest margin on its roughly $1.33 billion Term-Loan B to 350 basis points plus SOFR, 150 basis points less than before. All other terms, including the maturity in December 2029, remain unchanged. The stock showed slight declines in XETRA trading. » More on finanzen.net

Delivery Hero has appointed John Woyton to the supervisory board until the 2027 annual general meeting; he replaces Scott Ferguson and will take seats on the audit and strategy committees. Woyton brings more than two decades of private equity and M&A experience for technology, media and telecommunications companies. At the same time, Uber’s takeover offer (€41.50 per share; acceptance deadline November 5) is ongoing and CEO co‑founder Niklas Östberg intends to step down by the end of March at the latest, so the company is searching for a new CEO. The stock is trading slightly weaker at around €36.36. » More on finanzen.net