Deliveroo agrees to £2.9bn takeover by DoorDash | EUROtoday

Deliveroo, the meals supply app, has agreed to be taken over by US large DoorDash in a deal valuing the British enterprise at £2.9bn.

The deal is the most recent instance of a UK-listed firm being taken over by a US firm.

The mixed firm can have a presence in additional than 40 international locations with world gross sales of about $90bn (£68bn).

“The combination with Deliveroo will strengthen DoorDash’s position as a leading global platform in local commerce,” the 2 companies mentioned.

DoorDash is providing 180p per Deliveroo share, which marks a 44% enhance on the UK firm’s share worth from the purpose when takeover talks had been made public final month.

However, it’s nicely under the 390p share worth that Deliveroo first floated at when it launched on the London Stock Exchange in April 2021.

Will Shu, chief govt and co-founder of Deliveroo, mentioned he was “very proud of everything we have achieved as a standalone business”.

However, he mentioned the cope with DoorDash was “transformative”.

“DoorDash and Deliveroo are like-minded organisations with a shared strategic vision and aligned values,” he mentioned.

“The enlarged group will have the scale to invest in product, technology and the overall consumer value proposition.”