Agreement combines Uber Eats with food delivery brands in 99 countries and expands taxi service reach

Uber has reached an agreement to take over the German takeaway company Delivery Hero in a $14.8bn (£11bn, or €12.9bn) deal that would create a global food delivery giant.

The US tech firm said it had offered to pay €41.50 a share to Delivery Hero’s shareholders, valuing the business at $14.8bn. Uber will pay $13.7bn after accounting for its previous purchases of a quarter of Delivery Hero’s shares, most recently in May.