DoorDash Acquires Deliveroo for $29 Billion: A New Era in Food Delivery
British food delivery service Deliveroo has officially accepted a staggering acquisition offer of $29 billion from American rival DoorDash. This strategic move will see DoorDash acquiring all shares of Deliveroo at a price of £18 each, reflecting a 223% premium over the company’s recent stock value.
Deliveroo's financial challenges have been apparent, especially following its disappointing stock market launch in 2021, which contributed to a significant decline in its share price. The acquisition comes at a pivotal time, allowing DoorDash to solidify its presence and market share in Europe, where it will face considerable competition from established players like Just Eat and UberEats.
In 2024, it is projected that Deliveroo and DoorDash will have generated orders amounting to approximately $90 billion, marking a significant growth in the food delivery market. This merger not only showcases DoorDash's ambition to expand internationally but also indicates the shifting dynamics within the global food delivery sector.
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