Deliveroo confirmed on Friday that it received a $3.6 billion acquisition proposal from DoorDash on April 5. The offer values the company at 180 pence per share and follows recent press speculation.

Deliveroo's board announced it is inclined to recommend the offer if a formal bid is made, though discussions are still ongoing and no firm offer has been finalized yet.

According to Deliveroo's official statement, DoorDash has been granted access to conduct due diligence, but there is "no certainty" that a formal offer will emerge. Under UK takeover rules, DoorDash must announce a firm intention by May 23 unless the Takeover Panel grants an extension.