DoorDash's Deliveroo Offer, Hugo Boss Gains, BP Rises On Shell Interest
On this episode of Stock Movers:
- DoorDash has agreed to buy UK-based food-delivery platform Deliveroo Plc for an equity value of about £2.9 billion ($3.9 billion), as the US company pushes into more overseas markets.
- Hugo Boss’s shares rise as much as 10% after the suit maker’s earnings beat estimates, which analysts said was a relief, especially against a tough backdrop. Brokers noted that the update implied trading improved in March, while discipline around operating costs was also helpful.
- Shell is working with advisers to evaluate a potential acquisition of BP, though it’s waiting for further stock and oil price declines before deciding whether to pursue a bid, according to people familiar with the matter.
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