BRUSSELS (Reuters) -The planned $3.9 billion takeover of Deliveroo by U.S. meal delivery firm DoorDash will be reviewed under the European Union's simplified merger procedure, EU Commission documents
EU to Review DoorDash's $3.9 Billion Acquisition of Deliveroo
Overview of the Merger Review
BRUSSELS (Reuters) -The planned $3.9 billion takeover of Deliveroo by U.S. meal delivery firm DoorDash will be reviewed under the European Union's simplified merger procedure, EU Commission documents showed on Tuesday.
Details of the Acquisition
The food delivery app companies reached a deal valuing Deliveroo at about 2.9 billion pounds ($3.92 billion) in May.
Market Implications
The fact that the EU regulator is reviewing the merger under its simplified procedure usually means it does not see any competition concerns and that approval is probable.
Regulatory Perspective
Deliveroo's shares have weakened significantly since its 2021 debut as demand for online food delivery stagnated after the COVID pandemic.
($1 = 0.7407 pounds)
(Reporting by Forrest Crellin;Editing by Sudip Kar-Gupta/Makini Brice/Foo Yun Chee)
