UK’s Deliveroo suspends share buyback after DoorDash buyout offer

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British meal delivery company Deliveroo suspended its £100 million ($133.13 million) share buyback program on Monday, days after it said it had received a proposal from US peer DoorDash. On Friday, Deliveroo said it had received a £2.7 billion takeover proposal from DoorDash on April 5 and would likely recommend the 180 pence-per-share offer to shareholders, subject to agreement on other terms.

The deal is expected to face no regulatory hurdles, as it provides DoorDash access to 10 new markets where it currently has no presence, creating a highly…



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UK’s Deliveroo suspends share buyback after DoorDash buyout offer


British meal delivery company Deliveroo suspended its £100 million ($133.13 million) share buyback program on Monday, days after it said it had received a proposal from US peer DoorDash. On Friday, Deliveroo said it had received a £2.7 billion takeover proposal from DoorDash on April 5 and would likely recommend the 180 pence-per-share offer to shareholders, subject to agreement on other terms.

The deal is expected to face no regulatory hurdles, as it provides DoorDash access to 10 new markets where it currently has no presence, creating a highly…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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