Deliveroo, the food delivery app, has agreed to be taken over by US giant DoorDash in a deal valuing the business at £2.9bn.
The combined company will have a presence in more than 40 countries serving about 50 million customers per month.
The tie-up is also expected to provide fierce competition to rivals Just Eat and Uber Eats in the UK.
However, the deal is the latest example of a UK-listed company being taken over by a US firm, fuelling further concerns over UK investment.
DoorDash is offering 180p per Deliveroo share, which marks a 44% increase on the UK company's share price from the point when takeover talks were made public last month.
However, it is well below the 390p share price that Deliveroo first floated at when it launched on the London Stock Exchange in April 2021.
