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Deliveroo halts buyback as DoorDash cooks up a deal
Daily Post
|April 29, 2025
DELIVEROO has halted its £100m share buyback programme in light of a takeover proposal from its US rival, DoorDash.
The takeaway delivery giant had announced the programme, which would have increased shareholder returns to £550m since 2023, in its full-year results in March.
However, Deliveroo noted that it may resume the programme at a later date.
On Friday, the company confirmed that it had received a takeover offer from DoorDash earlier in the month, marking the US giant's latest acquisition move since its £5.2bn purchase of Finnish delivery firm Wolt in 2021.
Deliveroo's share price surged over 15% in early trading yesterday following the announcement late on Friday.
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