A strategic deal was recently proposed in the delivery sector as DoorDash proposed a $3.6 billion acquisition of London-based food delivery service Deliveroo.
According to reports from AP News, Deliveroo announced the bid after markets closed in Europe on Friday, noting that its board has decided to engage in talks with DoorDash about the possible offer and has given the company access to due diligence. Deliveroo’s Board of Directors has informed DoorDash that if a firm offer is made at the financial terms provided, it will recommend the bid to its shareholders, the source noted.
DoorDash must solidify its plans to make a firm buyout offer or not by May 23, as announced by Deliveroo.
We will keep a close eye on this transaction and others like it in the delivery and foodservice space. Be on the lookout for more updates from Deli Market News.
