On March 31, 2021, Deliru Rider near Victoria Station in London, England.
Dunkitwood | Getty Images
London – British food delivery company Derrveroo On Tuesday, he said he agreed to a deal with £2.9 billion ($3.9 billion) from American rival Doordash.
Derveoo, which allows users to order hot meals and groceries via the app, said its board agreed to the offer from Doordash, acquired all the shares issued and agreed to the shares issued in the company at 180p.
This shows a 44% premium on Derriveroo’s closing price on April 4th, the last business day before Doordash’s first offer letter. DERERIOOOO shares jumped to a three-year high last week after confirming that the company had received an acquisition offer from Doordash.
The transaction value will be delivered on a completely diluted basis at £2.9 billion, the company said. Deliveroo’s shares rose nearly 2% on Monday following trading news.
Doordash said the financial conditions for the acquisition are final and will not increase unless a third party intervenes in a rival bid.
“We couldn’t be more excited about what Doordash and Derveoo can achieve together. We can cover more than 40 countries with a population of over 1 billion and provide more local businesses with the tools and technology they need to thrive.
International expansion
The acquisition agreement marks an end to Deliveroo’s turbulent ride as a public company.
Once considered a British high-tech darling, Derriboroo saw its 30% shares in 2021, one of its worst trading debuts on the London Stock Exchange. The stock has been falling since then, down more than 50% from the company’s £3.90 IPO price.
Deliveroo was released when the UK was still feeling the impact of the Covid-19 lockdown. Investors questioned the sustainability of its growth in a post-Covid world, and the fierce competition in the market and legal challenges of the gig economy model were seen as important risks to delivery.
In Doordash, when you acquire Deliveroo, new initiatives from the American Online Takeout app will expand your presence overseas. Doordash acquired Finnish food delivery app in 2022 for 7 billion euros ($7.9 billion).
Doordash’s shares fell approximately 1% in pre-US market trading.
More broadly, the food delivery sector has been consolidated for several years. Earlier this year, Deliveroo Parts for sale Delivery heroes from Hong Kong units Immediately East We have agreed to be acquired by the investment group Prosus.
