IN BRIEF: Deliveroo and Doordash receive regulatory approvals for deal
Deliveroo PLC - London-based food delivery firm and Doordash Inc, San Francisco-based peer - Say the EU Antitrust Condition, the Italian FDI Condition and the EU FSR Condition have now been satisfied. Furthermore, note the UK Competition & Markets Authority’s position as most recently communicated is that it has ‘no further questions’ in respect of the deal and the CMA has not requested submission of a merger notice or given notice to either party that it is commencing a Phase I Investigation and as such the UK Antitrust Condition is expected to be satisfied at the sanction hearing. The sanction hearing is expected to take place on September 30 and the scheme - by which the takeover will be made - will become effective on October 2.
Current Deliveroo share price: 179.00 pence, closed unchanged in London on Tuesday
12-month change: up 18%
Current Doordash share price: $256.89, up 2.5% in New York on Tuesday
12-month change: more than doubled
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