DoorDash Deliveroo deal would be 'unappetising' for a government attempting to boost UK markets as 'Floperoo' finale nears

Analysts claim deal is on

US food delivery giant DoorDash’s potential takeover of British counterpart Deliveroo would represent a failure for the UK IPO market and put a dent in the government’s plans to revitalise the country’s ailing capital markets.

Deliveroo took to London's markets in 2021 in what was one of the most widely anticipated public flotations at the time, only to disappoint after shedding more than a quarter of its value during its first day of trading, closing at 287p per share, 26% down from the 390p float.  This wiped almost £2bn from its £7.6bn market capitalisation, with the debut dubbed ‘Floperoo' as a consequence.  The restaurant-to-door deliverer gained prominence and watched its value explode during the Covid-19 pandemic when Brits were confined to their homes and weeks spent inside were punctuated only...