DoorDash Proposes $3.6B All-Cash Deliveroo Acquisition

DoorDash has proposed a $3.6 billion (£2.7 billion) all-cash acquisition of UK-based Deliveroo, with Deliveroo's board receiving the indicative offer on April 5 and granting DoorDash access to due diligence. The board has indicated it would likely recommend the deal if remaining terms are agreed, though there is no certainty the transaction will proceed. DoorDash, already the leading US food delivery app, must make a formal offer by May 23 or withdraw. Deliveroo's share price has dropped nearly 50% since its 2021 IPO, attributed to slowing post-pandemic demand and greater investor focus on profitability. The deal would build on DoorDash's 2021 acquisition of Wolt, signaling ambitions to expand its European footprint. Deliveroo shareholders have been advised to take no action at this stage.