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Deliveroo PLC on Monday said it is suspending its £100 million share buyback programme, following a US takeover approach. The London-based food delivery firm after the market close on Friday disclosed it had received an indicative proposal from San Francisco-based peer DoorDash Inc regarding a possible cash offer. The proposal on April 5 was for a cash offer of 180 pence per Deliveroo share, valuing the company at around £2.7 billion. Its shares had closed at 124.80p each on April 4, meaning the offer was for a 44% premium. Deliveroo shares were up 16% to 169.70 pence each on Monday morning in London, giving it a market capitalisation of £2.53 billion. DoorDash shares closed 0.3% higher at $187.76 each on Friday in New York, for a market capitalisation of $78.88 billion. Deliveroo said that it would be ‘minded to recommend such an offer to Deliveroo shareholders, subject to the agreement of the other terms’ if a firm offer was made. Deliveroo said it has decided to engage with DoorDash regarding the offer and has provided access to due diligence. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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