The food-delivery company said it received a $3.59 billion takeover approach that it would be prepared to recommend to shareholders, if a formal offer were made.

Shares of Deliveroo, the food delivery service based in London, are hitting three-year highs after it received a $3.6 billion proposed takeover offer from DoorDash.

Deliveroo Plc shares surged by more than 18% on Monday, the most since 2021, after the British delivery firm disclosed an acquisition offer from DoorDash Inc.