Deliveroo CEO set for £172m payout from DoorDash takeover deal
The UK delivery company announced on Friday (25 April) that it had received a proposal from larger American rival DoorDash at a price of 180p per share
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Deliveroo co-founder and chief executive Will Shu could receive a £172m payout if the board approves a £2.7bn bid deal from DoorDash, The Times has revealed.
The UK delivery company announced on Friday (25 April) that it had received a takeover proposal from the larger American rival at a price of 180p per share.
DoorDash now has until 23 May to make a firm offer.
Advisers to the company stated that should an offer be made, it would be “minded” to recommend it to Deliveroo’s shareholders although there can be “no certainty” that any firm offer for Deliveroo will be made.
Shu is one of the largest shareholders in Deliveroo, which was founded in 2013, although Amazon is its largest investor, with a stake of 13%.
On 25 April, Deliveroo announced the suspension of its £100m buyback programme as it awaits an offer from DoorDash.
In the official announcement, Deliveroo said: “At this time, shareholders are advised to take no action in respect of the possible offer.”
Deliveroo has been contacted for comment.
