DoorDash to Purchase British Food Delivery Firm Deliveroo in $3.9 Billion Agreement

LONDON — The British food delivery company Deliveroo announced on Monday that it has accepted a takeover bid from its American competitor DoorDash. This deal values Deliveroo at £2.9 billion, which equates to approximately $3.9 billion.

Deliveroo, known for its app-based service that delivers hot meals and groceries, disclosed that its board has agreed to the terms proposed by DoorDash. The offer is for all existing and future shares of the company, priced at 180 pence per share.

This offer represents a 44% increase over Deliveroo's closing stock price on April 4, the last trading day before DoorDash's proposal.

Following the announcement of DoorDash's interest, Deliveroo's share value saw a significant increase last week.

The deal values Deliveroo at £2.9 billion, factoring in all potential shares, as described by the company.

DoorDash confirmed that the financial terms of the offer are conclusive unless another entity presents a competing proposal.

"The potential collaborative achievements of DoorDash and Deliveroo invigorate me tremendously. Our combined operations will span over 40 nations, reaching more than a billion individuals, and empowering local enterprises with essential resources and technology," said Tony Xu, the CEO and Co-founder of DoorDash.