DoorDash Inc. and Deliveroo Inc. Announce Groundbreaking Acquisition

In a landmark deal, DoorDash Inc. has agreed to acquire Deliveroo Inc. for an impressive £2.9 billion in an all-cash transaction. This strategic move, announced on Tuesday, marks a significant milestone in the food delivery industry, with the deal priced at 180 pence per share.

Uniting Strengths for Global Dominance

DoorDash CEO Tony Xu expressed his enthusiasm about the acquisition, highlighting the combined potential of the two companies. "Together, we'll extend our services to over 40 countries, serving a combined population exceeding 1 billion. This merger not only amplifies our operational capabilities but also enhances our commitment to empowering local businesses with cutting-edge technology and tools," Xu stated.

Deliveroo's Endorsement of the Deal

Deliveroo has taken a proactive approach by forming the Deliveroo Independent Committee to evaluate DoorDash's offer. With Goldman Sachs advising, the committee deemed the proposal "fair and reasonable," paving the way for a recommendation to shareholders to approve the deal.