Deals
Deliveroo Eyes Defense Strategy Before Dual-Class Setup Ends
- UK group speaking to advisers ahead of April governance change
- Activist Sachem Head owns stake, sees takeover potential
A food delivery courier, working for Deliveroo
Photographer: Hollie Adams/BloombergThis article is for subscribers only.
Deliveroo Plc is speaking to its advisers about defense strategies ahead of a governance change that will weaken the control of its founder, according to people with knowledge of the matter.
The UK food delivery platform could become vulnerable when a dual-class share structure — which gives extra voting power to Chief Executive Officer Will Shu — expires in April next year, the people said, asking not to be identified because the information is private. Activist investor Sachem Head Capital Management has been a shareholder in London-listed Deliveroo for some time and believes it could become a takeover target, they said.