1305 GMT - DoorDash's deal to acquire British food-delivery company Deliveroo looks positive for the industry, UBS analyst write in a note. The offer shows the attractiveness of European online food delivery to key players, they say. However, the deal could intensify competition in the Middle East and North Africa markets, and U.K. and France as well, the analysts add. While the agreement doesn't raise any anticompetitive concerns, potential uncertainty among investors lies around the deal getting more than 75% shareholder approval and the risk of a counterbid, they say. The Swiss bank cuts its stock recommendation to neutral from buy. Deliveroo shares are up 0.2% at 174.80 pence.(najat.kantouar@wsj.com)
(END) Dow Jones Newswires
May 13, 2025 09:05 ET (13:05 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.