U.S. food delivery giant DoorDash is looking to acquire UK-based rival Deliveroo in a deal that could be valued at $3.6 billion.
Deliveroo confirmed the news earlier this week, saying that DoorDash approached it on April 5 with an offer of £1.80 ($2.40) a share. The company added that it would be “minded to recommend such an offer to Deliveroo shareholders.”
However, it is important to note that DoorDash didn’t make a firm offer with Deliveroo placing a May 23 deadline for such an offer to come.
“There can be no certainty that any firm offer for Deliveroo will be made. At this time, shareholders are advised to take no action in respect to the possible offer,” Deliveroo concluded.
This isn’t the first time DoorDash has tried to buy Deliveroo. The two companies have held talks on several occasions in the past years, with the latest round coming last summer, but they couldn’t come to an agreement.
DoorDash is the largest food delivery platform in the United States with 42 million monthly active users and has a presence in 30 more countries around the globe. It had revenue of $10.72 billion in 2024 with a 24.2% year-over-year increase. The company’s stock closed at $187.76 per share on Friday, seeing a 10.03% growth year-to-date.
Deliveroo is the leading food delivery company in the UK. It reported £2.07 billion in revenue and had 7.1 million active users in 2024.