DoorDash, which owns two-thirds of the restaurant delivery market in the US, has been looking to strengthen its position abroad. For DoorDash, acquiring Deliveroo would help it access the UK and urban areas in Europe.
DoorDash Inc. has offered to buy UK-based Deliveroo Plc for US$3.6 billion ($4.74 billion), marking a renewed attempt by the US company to expand into more overseas markets by buying smaller food delivery providers.
Deliveroo said DoorDash has proposed a cash offer for Deliveroo's shares at 1.80 (US$2.40 or $3.16) apiece, according to a filing with the London stock exchange. Based on Deliveroo's shares outstanding, the offer may value the company at about US$3.6 billion, according to calculations by Bloomberg. Deliveroo said it would be "minded to recommend such an offer" to shareholders, should a firm bid be made at those terms.
