SBUX - DoorDash Reportedly Explored Takeover Of Amazon-Backed Deliveroo But Talks Stalled Over Valuation | Benzinga
DoorDash Inc. (NYSE:DASH) reportedly expressed interest in acquiring British food delivery company Deliveroo Plc. (OTC:DROOF), but discussions stalled due to valuation disagreements.
What Happened: DoorDash, a major player in the U.S. food delivery industry, initiated talks with Deliveroo last month, sources familiar with the matter told Reuters. The discussions ceased after the two companies failed to reach an agreement on Deliveroo’s worth.
The report states that there are currently no ongoing negotiations between the two firms. DoorDash and Deliveroo did not immediately respond to Benzinga's request for comment.
Since its March 2021 initial public offering, Deliveroo’s shares have been under pressure due to a slowdown in online food delivery demand post-COVID-19 and investor preference for more profitable ventures ...