DoorDash Reportedly Offers $3.6B All-Cash Takeout for UK-Based Deliveroo

A pandemic-era boom in food delivery has not abated, even as Americans have faced higher inflation and economic stressors. And with their staying power now established, industry leaders are picking up the leftovers — a trend continuing as DoorDashDASH

eyes a big overseas acquisition.

• In a document titled “Response to Press Speculation,” Deliveroo confirmed that DoorDash had offered an all-cash $3.6B takeout of its delivery competitor.
• The deal would value the UK-based delivery firm at £180 per share ($241.54), a small premium to the £170.80 per share that shares garnered Monday as news of the rumor was confirmed.

Consolidation station: Uber’sUBER

CEO said last year that demand for food delivery was becoming “much more habitual,” but not all apps have been able to capitalize. In recent weeks, delivery apps like Grubhub have sold for a fraction of their former valuations, while Just Eat is being acquired, and Trendyol Go is reportedly in talks for a potential sale. Meanwhile, DoorDash is up 42% over the past year — with sales soaring 24% and profits rising nearly 200%, putting it in the upper echelon of the delivery business.