Apr 25, 2025 - Business

DoorDash offers to buy Deliveroo for $3.6 billion

Illustration: Aïda Amer/Axios

European food delivery company Deliveroo on Friday disclosed that it's received a $3.6 billion takeover approach from DoorDash.

The big picture: Consolidation is as common as overpriced burritos in the food delivery space.

Catch up quick: Reuters reported last June that the two sides had held merger talks, but that they broke down over valuation.

Deliveroo shares subsequently climbed, but had fallen to just 113 pence per share earlier this month.
The April 5 approach from DoorDash, whose own stock has risen 47% over the past year, was for 180 pence per share. A binding offer is due by May 23, per U.K. securities law.

The bottom line: DoorDash first expanded to Europe in 2021 via acquisition, and now is looking to bulk up via the same method.