M&A - DoorDash, Inc.

Form Type: 8-K

Filing Date: 2025-05-06

Corporate Action: Merger

Type: New

Accession Number: 000114036125017438

Filing Summary: On May 6, 2025, DoorDash, Inc. announced a recommended final cash offer for Deliveroo plc, reaching an agreement with Deliveroo's board of directors. The transaction is to be implemented via a court-sanctioned scheme of arrangement under UK law and includes a cash consideration of 180 pence per Deliveroo share. The deal is contingent upon various conditions, including shareholder approval and court sanction, expected to be completed in the fourth quarter of 2025. The agreement also encompasses a Co-operation Agreement to facilitate necessary regulatory approvals and prepare offering documents. Additionally, DoorDash has initiated a Bridge Term Loan Credit Agreement of up to $2.85 billion to fund the transaction and has secured irrevocable undertakings from certain Deliveroo shareholders to support the scheme. The financial terms of the offer are final unless a third-party makes a competing offer.