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HomeMarket NewsDeliveroo shares jump after $3.6 billion DoorDash offer
On Friday, Deliveroo said in a filing that it had received a cash offer from DoorDash £1.80 per Deliveroo share. That would value the company at about $3.6 billion, according to calculations by Bloomberg.
By Bloomberg April 28, 2025, 2:15:26 PM IST (Published)
Deliveroo Plc shares surged by more than 18% on Monday, the most since 2021, after the British delivery firm disclosed an acquisition offer from DoorDash Inc.
On Friday, Deliveroo said in a filing that it had received a cash offer from DoorDash £1.80 per Deliveroo share. That would value the company at about $3.6 billion, according to calculations by Bloomberg.
In the filing, Deliveroo said it would be “minded to recommend such an offer” to shareholders at those terms.
Shares were trading at 171.30 pence in London at 8:15 a.m. on Monday, giving the company a market value of around £2.5 billion ($3.3 billion). Deliveroo shares have risen about 19% this year.
Europe’s food delivery companies expand rapidly during the pandemic but were punished when economies reopened and demand for takeout orders dropped. Since then, London-based Deliveroo and its rivals have focused on cutting costs, exiting weak markets and reining in expansions.
Deliveroo said on Monday it was suspending a £100 million buyback program announced in March due to the DoorDash bid.
If the acquisition closes, it would mark the second major food delivery deal this year after Prosus NV agreed to buy Just Eat Takeaway for €4.1 billion.
