Deliveroo has halted its £100 million share buyback program following a takeover proposal from DoorDash, which sent its shares up by 16%. Deliveroo's leadership is considering DoorDash's offer of 180p per share, with a firm offer deadline of May 23. Analysts suggest that while the valuation may not be ideal, there is potential for counteroffers. The deal exemplifies the trend of global tech consolidation as companies seek to enhance their technological capabilities and operational efficiencies, raising concerns about the future of domestic digital innovation.
Deliveroo's suspension of its £100 million share buyback reflects its focus on acquisition talks, highlighting the shift towards consolidation in the digital platform landscape.
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