SHARES in Deliveroo jumped yesterday after reports that US rival
Reuters reported that
Deliveroo declined to comment, but the firm's shares rose over seven per cent yesterday morning following the news. Its share price eventually dropped to close up 1.18 per cent.
Rumours also swirled in 2022 that
While Deliveroo may not have agreed to a deal on this occasion, analysts at Jefferies said the approach "may only be the start".
The analysts said the talks "validate what we have been arguing" since December, that a "large gap in US vs.
It also said the talks show "Deliveroo's quality of market positions, strategy, execution and balance sheet", which make it such a highly-sought after target.
"In this instance, the talks have failed. But such is the strength of the financial, industrial and strategic logic of a Deliveroo takeover, we would not be surprised to see similar such headlines to re-emerge in the short term."
Jefferies said: "In our view, the key to unlocking a recommended offer from Deliveroo is understanding the sensibilities of the Founder CEO,
(c) 2024 City A.M., source