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DoorDash Acquires Deliveroo in $3.9B Deal

Published MAY 6 2025

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Above: A Deliveroo cyclist making a delivery in London on Jan. 30, 2025. Image credit: Mike Kemp/In Pictures via Getty Images

The Facts

DoorDash, the American food delivery company, announced on Tuesday the acquisition of British rival Deliveroo for roughly £2.9 billion ($3.9 billion), offering 180 pence per share, a 44% premium to Deliveroo’s closing price on April 4.
CNBC
FOX News
In a business wire, DoorDash stated that the purchase would create a combined entity with a presence in over 40 countries and serve approximately 50 million monthly active users, with the two companies generating a total order value of approximately $90 billion in 2024.
Doordash
Deliveroo, which went public in 2021, saw its shares decline by 30% on its first day of trading on the London Stock Exchange. As of April 4, 2025, the company was trading at 125 pence per share, down from 390 pence in 2021.
The New York Times
Doordash
CNN
Deliveroo's founder and CEO, Will Shu, will receive about $229.7 million for his 6.4% stake, while investors holding 15.4% of shares have pledged support for the deal. Amazon, however, the company’s largest shareholder, was notably absent from those supporting the takeover amid speculation it could launch a counter-bid.
FOX News
CNN
The acquisition marks DoorDash's second major international expansion following its purchase of Finnish food delivery app Wolt for €7 billion ($7.9 billion) in 2022.
ABC News
CNBC
Doordash
In its release, DoorDash stated that the deal would close in Q4 2025, subject to shareholder and regulatory approval, that the financial terms of the agreement were final, and that the £2.9 billion offer would not be increased unless there is a competing bid.
Doordash
The New York Times
Bloomberg.com

Sources Split

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The Spin

Narrative A

The strategic acquisition of Deliveroo strengthens DoorDash’s global presence while creating value for Deliveroo’s current shareholders. The pair is a natural fit, sharing the same strategic vision and commitment to continually improving their offerings for local businesses, consumers, and delivery riders. Together, the combined entity can empower commerce, provide new opportunities, and fuel urban GDP growth.

Doordash

Narrative B

The takeover of Deliveroo by U.S. Giant DoorDash is another striking example of a disturbing trend. For decades, U.K. companies, some even iconic ones like Cadbury, have been snatched up by American buyers, highlighting how the U.K. cannot hold onto its biggest firms, as the British share of the U.K. market has fallen from 50% to less than 5% in the last 30 years. The government’s Edinburgh Reforms must address this economic challenge.