Deliveroo in talks with DoorDash over potential acquisition offer

LONDON - Deliveroo (OTC:DROOF) PLC has confirmed that it is engaged in preliminary discussions with DoorDash (NASDAQ:DASH), Inc. about a possible acquisition offer, following recent speculation in the media. On Monday, April 5, 2025, DoorDash proposed to acquire all of the issued and to-be-issued ordinary share capital of Deliveroo for 180 pence per share.

The Board of Deliveroo, after reviewing the non-binding proposal with its financial advisors, has indicated that it would be inclined to recommend the offer to its shareholders, should DoorDash present a firm intention to buy. As a result, Deliveroo has granted DoorDash access to conduct due diligence.

However, there is no certainty that DoorDash will proceed with a firm offer. Deliveroo shareholders have been advised to take no action at this time. This announcement, made with DoorDash’s consent, triggers the start of an offer period under the Takeover Code.

DoorDash has until 5 pm London time on May 23, 2025, to either declare a definitive intention to make an offer for Deliveroo or to state that it does not intend to make an offer. This deadline may be extended only with the Takeover Panel’s consent.

DoorDash reserves the right to modify the terms of its proposal, including the consideration type or the offer’s value, especially if Deliveroo agrees, if a third party makes an offer for Deliveroo, or if Deliveroo announces certain transactions as defined by the Takeover Code.

Due to this announcement, Deliveroo shareholders are subject to the disclosure requirements outlined in Rule 8 of the Takeover Code. The announcement is based on a press release statement and does not constitute an offer or an invitation to purchase any securities.

Goldman Sachs and Allen & Company LLC are serving as financial advisors to Deliveroo, while White & Case LLP is the legal advisor. Deliveroo’s ordinary shares have an ISIN of GB00BNC5T391. Further details regarding this announcement will be available on Deliveroo’s corporate website.

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