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LONDON - Deliveroo (OTC:DROOF) PLC (LSE:ROO) shareholders voted overwhelmingly in favor of the company’s acquisition by DoorDash, Inc. (NYSE:NASDAQ:DASH) at meetings held Monday, moving the food delivery merger closer to completion.
At the Court Meeting, 99.96% of voting Scheme Shareholders approved the cash offer, representing approximately 58.90% of all eligible Scheme Shares. Similarly, at the General Meeting, 99.96% of voting Deliveroo Shareholders supported the implementation of the acquisition.
The transaction, first announced on May 6, will be implemented through a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act. DoorDash is acquiring the entire issued and to be issued ordinary share capital of Deliveroo in a cash deal.
While shareholders have now approved the acquisition, the transaction remains subject to several conditions, including Court sanction at the upcoming Sanction Hearing and delivery of the Court Order to the Registrar of Companies.
According to the company’s statement based on a press release, the acquisition is expected to be completed in the fourth quarter of 2025, pending satisfaction of the remaining conditions.
The vote represents a significant milestone for both companies in the competitive food delivery market. Deliveroo had 1,497,421,453 total voting rights at the time of the vote, with 1,511,055,868 shares in issue, of which 13,634,415 were held in treasury.
The acquisition still requires regulatory approvals before it can be finalized.
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