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The Guardian - UK
The Guardian - UK
Business
Lauren Almeida

Deliveroo shares surge after £2.7bn DoorDash takeover move

Deliveroo DoorDash Will Shu United States
a deliveroo cycle rider with the square blue-green bag on his bike
Deliveroo was founded by Will Shu who dreamed up the idea after lamenting the lack of food options when working late nights as an investment banker. Photograph: Eric Gaillard/Reuters

Shares in Deliveroo have risen by 17% as investors reacted to a $3.6bn (£2.7bn) takeover offer by the rival food delivery app DoorDash that could net its founder more than £170m.

Deliveroo said on Friday after the UK stock market had closed that it had received a takeover proposal from DoorDash, the biggest delivery app in the US, on 5 April. It said it would probably recommend a possible 180p a share offer to investors, if DoorDash made a firm offer.

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