DoorDash and Deliveroo Join Forces

In a landmark deal, DoorDash Inc. has agreed to acquire Deliveroo Inc. for a staggering £2.9 billion, marking a significant consolidation in the global food delivery market. The all-cash transaction, priced at 180 pence per share, was announced by both companies on Tuesday.

A Vision for the Future

DoorDash CEO Tony Xu expressed enthusiasm about the merger, highlighting the combined potential to serve over 1 billion people across more than 40 countries. "Together, we will empower local businesses with cutting-edge technology and tools to flourish in the digital age," Xu stated, envisioning a future where innovation and local expertise drive unprecedented growth.

Recommendation from the Independent Committee

Deliveroo's Independent Committee, advised by Goldman Sachs, has deemed the offer "fair and reasonable." The committee plans to recommend that shareholders approve the deal, signaling strong confidence in the strategic benefits of the merger.