Deliveroo Confirms DoorDash's Acquisition Proposal

In a significant development, Deliveroo has officially acknowledged receiving a monumental $3.6 billion acquisition proposal from DoorDash. This offer, dated April 5, pegs the company's value at 180 pence per share, sparking widespread speculation and interest.

Board's Stance and Next Steps

The board of Deliveroo has indicated a preliminary inclination to endorse the offer, contingent upon the formalization of a bid. However, it's crucial to note that discussions are still in progress, and a definitive offer has yet to materialize.

Due Diligence and Uncertainties

DoorDash has been granted the necessary access to perform due diligence, as per Deliveroo's statement. Yet, the company emphasizes that the emergence of a formal offer remains uncertain. Adhering to UK takeover regulations, DoorDash faces a deadline of May 23 to declare a firm intention, barring any extensions from the Takeover Panel.