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Shares of the British Food Delivery Company Delivery Jump to their highest level of more than three years on Monday after the company confirmed that it had received a $ 3.6 billion bid from the US company DoordashS
Deliveroo first made the message after the European markets closed on Friday. On a subsequent update on Monday, he said he immediately stopped the 100 million pounds ($ 133.5 million) stock buying program, which she had announced on March 18th.
Deliveroo’s shares increased by 17.6% to 172.4 pence at its highest since January 2022 at 11:18.
Last week’s update revealed that Deliveroo’s board received a cash offer from DOORDASH on April 5 from the Delivero 180 Pens, estimating the company at about $ 3.6 billion, according to the CNBC CNBC data.
Deliverooo stock price.
In a statement on Friday, the Deliveroo board said he had looked at the proposal with advisers and that it would be “deliberate to recommend it” to the shareholders if a solid offer was made, provided that other conditions were made. He added that he was now in additional discussions with Doordash.
Deliveroo’s shares marked a sharp decline in 2022 after the company became public in London in the previous year, with investors concerned about growth in the market for food supply in era after Kovid-19, intensive competition in the industry and questions about workers’ rights in its concert economy model. The company’s shares have tilted steadily – albeit relatively muted – profits over the years afterwards, remaining far from its peak from 386.1 pence per share in August 2021.
Deliveroo operates in markets, including the UK, France, Italy, Belgium, Ireland, Singapore and Qatar. Its European regional competitors include German Delivery hero – which sold its share in Deliveroo in early 2024. – Uber Eat and eat Just eatS
In March Deliveroo reported his first ever Annual profitSinging from a loss of £ 10.9 million in 2023 to a profit of £ 12.2 million in 2024.
Doordash in turn published An annual net income, which may be due to shareholders of $ 123 million in the year 2024, is currently working mainly in the United States and Canada, along with some cities in Australia and New Zealand.
Food Delivery Industry is full of regional business ingestion, with DOORTASH acquired WOLT’s WOLT in 2021 and Deliveroo recently parts On his Hong Kong business to the delivery hero this year. Meanwhile to the east is set to be acquired by Prosus of the Investment Group.
“Flopero”
Susanna Street, the Hargreaves Lansdown money and market leader, said on Monday that the sale of Deliveroo at the current offer of 180 pens per share would mean that the company “would not get off the label” Floperoo “with which he was burdened after the catastrophic debut
“Although Deliveroo has finally broke into a winning territory, the prolonged attack of poor digestion around the price of his shares continues … The beginning of Deliveroo in grocery supplies has helped him make a profit, but is still facing cruel rivals.”
The deal will also be “inappropriate” for the United Kingdom government, which is trying to increase the number of technology companies listed in London and to represent the latest in exits, Streeter said.
However, Citi analysts have said they do not expect Deliveroo’s DOORDASH to face large regulatory obstacles as companies have no operational geographical overlap.