Deliveroo says yes to DoorDash's offer

Deliveroo accepts the takeover offer that US-based DoorDash had proposed a month ago. The two groups announced that they had reached agreement on the final terms of the US company's cash offer, which values the entire UK group at GBP 2.9 billion, or around EUR 3.4 billion. The price of 180 pence per share represents a 44 per cent premium over the closing price of 125 pence on 4 April, the day before DoorDash announced its proposed takeover in a letter. DoorDash confirmed that the financial terms of the deal are 'final' and will not be increased.

"The aggregation with Deliveroo will strengthen DoorDash's position as a global platform in local commerce," points out a statement, noting that the US group operates in over 30 countries, partners with over 500,000 local businesses, and serves over 42 million monthly active users. With Deliveroo "there is a geographical complementarity" and together the two groups will have a global presence in over 40 countries, serving around 50 million monthly active users. In 2024 in aggregate the companies realised a gross order value of about USD 90 billion. Deliveroo operates in nine countries that are totally new to DoorDash and the enlarged group will operate in countries with a combined population of more than one billion people. Deliveroo, which has not had an easy time on the stock market since its IPO in 2021, said earlier that its board, after considering DoorDash's 180p proposal, concluded that the terms were 'fair and reasonable' and therefore recommended that shareholders accept it.