Overview

• Deliveroo shares surged 17% to a three-year high following confirmation of DoorDash's £2.7 billion takeover proposal.
• The Deliveroo board announced it is 'minded to recommend' the 180p-per-share offer, which represents a 23% premium over recent share prices but remains far below its 2021 IPO valuation of 390p per share.
• Deliveroo has suspended its £100 million share buyback program, initially launched in March, as it engages in discussions with DoorDash.
• Founder and CEO Will Shu could receive a payout exceeding £172 million if the deal proceeds, based on his 5.9% stake in the company.
• Regulatory approval is expected to be straightforward due to the lack of geographic overlap between the two companies' operations.