Deliveroo reaches agreement on £2.9bn DoorDash takeover
The board of Deliveroo has said it has “reached agreement” on the terms of a takeover offer by US rival DoorDash as it prepares to exit the London Stock Exchange.
The offer of 180p per share represents a premium of 44 per cent on Deliveroo’s closing share price on the day prior to the acquisition, and a 40 per cent premium on its average price for the prior three months. It values the company’s share capital at £2.9bn.
DoorDash, which itself floated in New York only a few months earlier, said the terms of its offer were “final” and “would not be increased”.
Global delivery giant
The takeover, the latest in a long line of US acquisitions of London-listed businesses, will see the combined group achieve a global presence in over 40 countries, serving approximately 50m monthly active users.
In 2024, the two companies together generated a total Gross Order Value of approximately $90bn.
Deliveroo CEO Will Shu, who co-founded the business in 2013, said: “We are now at the beginning of a transformative new chapter.
“DoorDash and Deliveroo are like-minded organisations with a shared strategic vision and aligned values.
“The enlarged group will have the scale to invest in product, technology and the overall consumer value proposition.”
Deliveroo chair Claudia Arney added: Both companies are highly complementary, whether in their geographic footprints or their missions, and I am confident that being part of the enlarged group will accelerate the realisation of Deliveroo’s full potential.”
The deal will be subject to shareholder approval at a forthcoming general meeting. Shu, who controls a 6.4 per cent stake in the company, would be in line for a £172m payday if the deal goes ahead.
SevenRooms deal
DoorDash today also announced the acquisition of US-based hospitality software business SevenRooms in a $1.2bn deal.
“The move marks a significant expansion of DoorDash’s Commerce Platform capabilities, equipping merchants with new tools to grow in-store sales, build stronger customer relationships, and increase profitability,” DoorDash said.
The firm reported an 18 per cent increase in total orders to 732 million, while revenue rose 21 per cent to $3.0 billion.