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Reading: Deliveroo shares surge 17% as £2.7bn takeover looms
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Michigan Post > Blog > Business > Deliveroo shares surge 17% as £2.7bn takeover looms
Business

Deliveroo shares surge 17% as £2.7bn takeover looms

By Editorial Board Published April 28, 2025 2 Min Read
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Deliveroo shares surge 17% as £2.7bn takeover looms

The corporate revealed after the market had closed on Friday that it had been in talks since 5 April with US rival DoorDash.

Deliveroo urged then it was doubtless the 180p per share provide can be advisable, although full phrases had been but to be agreed.

At that value, the corporate’s founder and chief government, Will Shu, can be in line for a windfall of greater than £170m.

Deliveroo additional introduced, earlier than buying and selling on Monday, that it had suspended its £100m share buyback programme.

The opening share value response took the worth to 171p per share – nonetheless shy of the 180p on the desk.

Deliveroo’s shares have weakened practically 50% since their 2021 debut as demand for on-line meals supply stagnated after the pandemic and buyers shifted towards extra worthwhile corporations.

The deal isn’t anticipated to face regulatory hurdles because it offers DoorDash entry to 10 new markets the place it at the moment has no presence.

On Monday, Deliveroo mentioned its buyback was suspended with rapid impact and any recommencement of the programme might be introduced to the market, and didn’t present every other element.

That continues to be beneath the provide value and nicely below the 390p per share flotation value seen in 2021.

Please refresh the web page for the fullest model.

TAGGED:2.7bnDeliverooloomsSharessurgetakeover
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