Deliveroo co-founder and chief executive Will Shu could be set to receive a £172m payout if the delivery giant’s board approves a near £3bn takeover bid from US rival DoorDash.

The UK-listed company confirmed on Friday (25 April) that it had received an indicative takeover proposal for 180p a share from DoorDash at the start of the month, valuing the platform at around £2.7bn.

Deliveroo said it would be “minded to recommend” the proposal to its shareholders should a firm offer be made. DoorDash has until 23 May to submit a firm offer or walk away.

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Following the news, the delivery giant suspended its £100m Buyback programme while it waits on a response from the US rival.

The company said that there was “no certainty that any firm offer for Deliveroo” would be made and advised shareholders to take no action.

Shares in Deliveroo are up more than 17% since the markets opened this morning (28 April).

Deliveroo launched its grocery service in 2020, partnering with the likes of Sainsbury’s, Waitrose, Morrisons and Co-op. It has since teamed up with specialist retailers including Boots, B&Q, Wilko and The Perfume Shop to offer a rapid delivery service.

Earlier this month, the platform unveiled a new white label solution, named Deliveroo Express, designed for grocers and retailers in the UK and Ireland, enabling them to offer rapid, on-demand delivery through their own online channels.

The service marks a major expansion of the delivery giant’s grocery offering, which now accounts for 16% of the company’s gross transaction value (GTV), following strong double-digit growth.