Hero Technologies Inc.·Healthcare

Jefferies has raised its target price on Delivery Hero (XETRA:DHER, OTCQX:DLVHF) from €29 to €42.50, arguing that the scramble by Uber Technologies Inc (NYSE:UBER, XETRA:UT8)and DoorDash to acquire the German food delivery group is just the beginning of an endgame that should push the shares higher still. Uber tabled an indicative offer of €33 per share last week, valuing Delivery Hero at around €10 billion, but the approach was swiftly rebuffed.

Delivery Hero stock jumped more than 10% on Monday as investors bet that Uber's opening move for the Berlin-based food delivery group may be only the start of a bigger takeover fight. The immediate trigger was Delivery Hero's confirmation that Uber had made an indicative €33-a-share approach, valuing the company at more than €10 billion.

Shares in Delivery Hero hit their highest level in 18 months on Monday after the German food delivery group said it has received an indicative offer from Uber and a Financial Times report said the U.S. rival was considering raising the bid.

Uber is mulling an improved bid for German delivery company Delivery Hero. It saw an offer of €33 per share rebuffed at the weekend, according to the Financial Times.

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Activist investor Aspex Management has raised its stake in German food delivery group Delivery Hero to about 15% after buying a 5% holding from Prosus for around 335 million euros ($393 million), increasing pressure on CEO Niklas Oestberg.
Hero Technologies Inc. operates as an early-stage cannabis company. It focuses on the provision of BlackBox, an aeroponic cannabis cultivation system that provides optimal growing conditions to enhance photosynthesis and the cultivation of large flowering plants and create increased harvest efficiencies. The company also intends to offer cannabis genetic engineering farmland for medical and recreational cannabis cultivation, production, distribution, packaging, and retail operations, as well as for dispensaries. The company was incorporated in 2004 and is headquartered in Dover, Delaware.
Healthcare
Drug Manufacturers - Specialty & Generic
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