Deliveroo receives $3.6b buyout proposal from DoorDash

DoorDash must submit a firm offer by 23 May.

Deliveroo has confirmed that it has received an acquisition proposal from U.S.-based DoorDash (DASH.O) to buy the company for $3.6b (£2.7b), Reuters reported. The proposal, dated 5 April, offers 180 pence per share.

Deliveroo’s board stated that it has reviewed DoorDash's offer and is likely to recommend it to shareholders, pending agreement on the remaining terms of the deal. DoorDash must submit a firm offer by 23 May.

Deliveroo’s shares have dropped nearly 50% since its 2021 IPO, as demand for food delivery slowed post-pandemic.

In March, Deliveroo exited Hong Kong, selling assets to Delivery Hero’s foodpanda due to losses in the region.