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Shares of a British firm for food delivery Early Monday jumped to the highest level in three years after the company confirmed that it received a $ 3.6 billion proposal from the US Dooordash.
For the first time, Deliveroo closed the statement after the European markets closed on Friday. The following update on Monday said that she immediately suspended the ransom program of 100 million pounds ($ 133.5 million), which she announced on March 18.
Deliveroo shares rose 17.6% to 172.4 pence at the highest January 2022 at 11:18 am of the UK on Monday.
Update last week showed that the Deliveroo Council received a cash offer from Doordash on April 5 with 180 Pence Pervero Share, estimating the company of approximately $ 3.6 billion, CNBC reports LSEG data.
Reliveroo stock price.
In a statement on Friday, the Relivooto Council said he considered an offer with advisers and that he would “think to recommend” his shareholders when a firm proposal was made, provided other conditions. It adds that it was now held in further discussions with Doordash.
Deliveroo shares a sharp decline in 2022 after the company became public in London last year, and investors are concerned about growing food delivery in the era after cabbage 19, intensive competition in the industry and issues about the rights of workers in its concert economy model. The campaign action is resistant – albeit relatively muted – the profit in these years, remaining far from the peak of 386.1 pence per share in August 2021.
Deliveroo works in the markets including the UK, France, Italy, Belgium, Ireland, Singapore and Qatar. Its European regional competitors include Germany The hero of delivery – which Sold its stake in Elveroo in the early 2024 . Uber Eats and Just eat.
In March Elveroo reported its first ever history Annual profitExpanded from £ 10.9 million to taxation in 2023 to a profit of £ 12.2 million in 2024.
For its part, Doordash published Annual net income, which can be attributed to shareholders of $ 123 million for the full year of 2024, it currently operates mainly in the US and Canada, as well as in some cities of Australia and New Zealand.
Food delivery industry is filled with regional business absorption, and Doordash acquires Wolt Finland in 2021 and Delivero Sale of parts His Hong Kong Business to Delivery Hero earlier this year. Just to the east, meanwhile set for obtaining PROSUS investment group.
“Floper”
Susanna Striter, Head of Cash and Markets in Hargreaves Lansdown, said on Monday, noting that the sale of Deliveroo at the current proposal of 180 pences will mean that the company “will not be able to get rid of the” Floper “tag with which it was designed after its catastrophic IPO -DEBUT.”
“Although Deliveroo has finally made its way to the profitable territory, the long -term digestive attack around its shares continues …
The transaction will also be “unperatic” for the UK government, which is trying to increase the number of technology companies that list London and submit the latest running out, the striker said.
However, CITI analysts said they did not expect the absorption of Doordash delivery to face major regulatory obstacles as companies have no operational geographical overlap.
