British Food Delivery Company shares delivery He jumped to his highest level in more than three years on Monday, after the company confirmed that it had received a $ 3.6 billion offer from the United States company Doordash.
Deliveroo first released the announcement after the closing of the European markets on Friday. On Monday’s follow -up update, he said that the re -purchase program of 100 million pounds was suspended immediately (133.5 million dollars) that it announced on March 18.
Deliveroo shares increased by 17.6 % to 172.4 pence at its highest levels since January 2022 at 11:18 am UK local time.
Last week’s update revealed that the registration board received a cash offer from Doordash on April 5 from 180 People per arrow of delivery, as it evaluated the company by about $ 3.6 billion, according to the CNBC account for LSEG data.
Delivery share price.
In a statement on Friday, the Delivery Council of the Delivery Council said that he looked at the proposal with the advisers and that it would be “thinking” for the shareholders if a fixed offer is made, according to other conditions. He added that he is now in other discussions with Doordash.
Deliveroo shares witnessed a sharp decrease in 2022 after the company became public in London in the previous year, where investors were interested in growing in the afternoon food delivery market, extensive competition in industry and questions about workers’ rights in an economy model that bothered it. The shares of the company achieved stability – despite relatively silent – in the years that followed, and remain away from its peak of 386.1 pence per share in August 2021.
Deliveroo operates in markets including the United Kingdom, France, Italy, Belgium, Ireland, Singapore and Qatar. Its European regional competitors include Germany Delivery hero – any She sold her share in Deliveroo in early 2024 – Uber Eat and Just eat.
In March, Deliveroo was informed of the first ever Annual profitPlasting the pre -tax loss of 10.9 million pounds in 2023 to a profit of 12.2 million pounds in 2024.
For its part, Doordash to publish The net annual income, which is due to shareholders of $ 123 million in 2024, is currently working in the United States and Canada, along with some cities in Australia and New Zealand.
The food delivery industry is tenth by operating regional companies, as Doordash got Wolt in Finland in 2021 and Dellando recently Sell spare parts From Hong Kong’s work to the delivery hero earlier this year. East only at the same time It is scheduled to be obtained By the PROSUS Investment Group.
‘Floperoo’
Susanna Streter, head of money and markets at Hargrves Lancedon, said in the Monday note that the delivery process in the current offer of 180 pence per share will mean that the company will fail to get rid of the “Floperoo” brand that was installed after its appearance in the catastrophic IPO in 2021 “.
“Although Deliveroo has finally erupted to a profitable area, the long match of indigestion around its share price continued … Deliveroo has helped in grocery delivery processes but still face fierce competitors.”
Sheter said that the deal will also be “delicious” for the UK government, which is trying to strengthen the number of technology listed in London, and is the latest in a set of exits.
However, CITI analysts said they do not expect Doordash on Deliveroo to face the main organizational obstacles because companies do not have any operating geographical overlap.
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