DoorDash buys Deliveroo for 2.9B less than half its IPO price
Get the Full StoryUS food delivery giant DoorDash has acquired British rival Deliveroo in a 2.9bn 3.9bn deal, ending the UK business rocky tenure as a public company. The all-cash offer, priced at 1.80 2.40 per share, represents a 77 premium over Deliveroo s recent trading price. However, the acquisition price is less than half its 2021 IPO valuation of 7.6bn. Deliveroo s board unanimously backed the deal. CEO and co-founder Will Shu, who owns 6.4 of the company, is set to pocket 172mn. The merger will expand DoorDash s footprint in Europe, where it has lagged behind competitors like Uber Eats and Just Eat. Deliveroo s This story continues at The Next WebShare: