Deliveroo looks set to be acquired by its US counterpart DoorDash, Inc.
In a statement to the London Stock Exchange, the London-headquartered delivery app company said it had received an indicative proposal from the San Francisco firm regarding a possible cash offer for 180 pence per share.
That would value Deliveroo at 拢2.7bn and give founder Will Shu a payday of more than 拢170m.
With an official offer now expected, Deliveroo has suspended with immediate effect its 拢100m share buyback programme announced last month.
DoorDash is the largest food delivery app in the United States, with a presence in 25 countries. It had 42m monthly active users last year and made $10.7bn in revenue.
Deliveroo, meanwhile, averaged 7.1m active users in 2024 with 拢2.1bn in revenue.
鈥淗aving carefully considered the possible offer with its advisers, the board of Deliveroo has indicated to DoorDash that, should a firm offer be made on the financial terms set out above, it would be minded to recommend such an offer to Deliveroo shareholders, subject to the agreement of the other terms of the offer,鈥� stated Deliveroo.
鈥淎ccordingly, the board of Deliveroo decided to engage in discussions with DoorDash in relation to the possible offer and has provided DoorDash with access to due diligence.鈥�
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