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

Shares of Deliveroo, the food delivery service based in London, are hitting three-year highs on Monday after it received a $3.6 billion proposed takeover offer from DoorDash. Deliveroo announced the bid after markets closed in Europe on Friday.

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.On Friday, Deliveroo said in a filing that it had received a cash offer from DoorDash at £1.