Deliveroo Plc experienced a significant surge in shares, rising over 18% after announcing a cash acquisition offer from DoorDash Inc. The offer, valued at $1.80 per share, totals about $3.6 billion. Deliveroo expressed intent to recommend the offer to shareholders. The current market environment follows a pandemic-driven expansion phase, leading companies to cut costs and exit weaker markets. Analysts see low likelihood of competing bids, especially from Amazon, the largest shareholder, which is not prioritizing food delivery. A successful acquisition would enhance DoorDash's presence internationally without antitrust issues.
Deliveroo's shares surged by over 18% following a cash acquisition offer from DoorDash, valuing the company at approximately $3.6 billion, highlighting a renewed competition in food delivery.
Clement Genelot, an analyst, noted that a DoorDash acquisition would allow it to triple its international business without antitrust complications, indicating strong strategic alignment.
Collection
[
|
...
]