Uber in $15 billion deal for Delivery Hero to create global takeout giant

Uber agreed on Thursday to buy Germany’s Delivery Hero at an equity value of $14.8 billion to create the largest food-delivery group outside China and stave off intensifying competition from U.S. and European rivals.

The acquisition advances the U.S. ride-hailing firm’s efforts to build a global food-delivery business that can better compete with Just Eat, owned by Dutch group Prosus, and U.S. rival DoorDash, which has been expanding aggressively.