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Brunswick Group represents Deliveroo as the British food delivery service receives a $3.6B takeover offer from San Francisco’s Doordash.
A successful deal would bolster DoorDash’s market presence in UK, Ireland, France and Italy. DoorDash already has operations in 25 global markets.
Deliveroo’s board has carefully considered the offer and has indicated that it “would be minded to recommend it” to shareholders, subject to other terms of the proposal.
According to British securities regulations, DoorDash faces a May 23 deadline to formally make a formal acquisition bid, or walk away from a deal.
Brunswick Group’s Susan Gilchrist and Rose Oddy handle PR for Deliveroo.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
Teneo represents Metsera, the New York City biotech focused on weight-control products, which is subject to a bidding war between heavyweights Novo Nordisk and Pfizer.
Haggie Partners is working the $7B takeover of the specialty insurer Convex by Canada’s Onex private equity fund and American International Group.
WPP reported Q3 revenues less pass-through costs tumbled 5.9 percent to $3.3B, a performance new CEO Cindy Rose called “unacceptable.”
