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Sources say Uber to buy Dubai-based rival Careem in $3.1 billion deal (Bloomberg)

March 25, 2019

San Francisco-based Uber Technologies Inc. is set to announce a $3.1 billion cash-and-share deal to acquire Dubai-based Careem Networks FZ as early as this week, people with knowledge of the matter told Bloomberg. Uber will pay $1.4 billion in cash and $1.7 billion in convertible notes for its rival in the human cloud, ride-sharing space, the sources said. The notes will be convertible into Uber shares at a price equal to $55 per share, according to the term sheet seen by Bloomberg.