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Between Woo, the food delivery company that appears in London with an assessment of £ 7.6 billion in 2021, will be the last company of the United Kingdom swallowed by an American rival after Dordash, based in San Francisco, made an indicative offer of £ 2.7 billion.
Acquisition conversations between the two popular applications of carrying food occur when consolidation accumulates rhythm in the sector. Earlier this year, Prosus reached an agreement of 4.1 billion euros to take the main food delivery group in Europe, just eat to take private.
Founded by Will Shu in 2013, amongwoo he became public in a highly anticipated OPI four years ago. But the list demonstrated a debacle As the actions lost more than a quarter of their value on the first day of negotiation.
The company has fought to act since then. Its shares were located at £ 1.47 at the closing of the market on Friday, more than 60 percent in its listing price of £ 3.90. The competition intensified when Uber Eats was launched in the United Kingdom in 2016 along with the Amazon retail giant that begins the delivery of groceries the same year.
Between Woo in a statement on Friday that his Board “would be the mind to recommend” the offer of Dordash of £ 1.80 per action if a firm approach was made.
Delivery operates a food delivery application in nine countries and reserved its First complete annual gain in its 2024 results last month.
In February, between Woo he was forced to deny the speculation that Shu would resign as executive director this year, and added that he remained “without rest focused on the future in the company” of the company.
Dordash, co -founded in 2013 by Tony Xu, operates in more than 30 countries and registered $ 10.7 billion in revenues last year. A company spokesman declined to comment.
Doordash first made an approach to delivery in approximately the same assessment last summer, according to a person with knowledge of the agreement. Companies will continue the conversations and due diligence, but there is no guarantee that an agreement will materialize, he added between Woo in his statement.
The offer of Dorash’s values in among the shares of more than 20 percent at its closing price on Friday. The company will have to make an offer before May 23 under the rules of acquisition of the United Kingdom.
DORORASH operates in the US, Canada, Australia and New Zealand and does not overlap with any of the Deliveroo markets, which companies will mean that the agreement is not blocked by the regulators of the competition, according to the person with knowledge of the conversations.
Both companies have expanded to the delivery of groceries and retailers, while developing their advertising businesses to increase profitability.