Live Markets: Delivery firms: M&A on the menu for 2024

Just Eat Takeaway.com NV

11/04/2024 11:28

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        DELIVERY FIRMS: M&A ON THE MENU FOR 2024
  
    Barclays says M&A could be the emerging story this year for global food delivery firms, with
some companies divesting assets to create shareholder value, while others buying and expanding.
    "Activist investors across the EU publics, supervoting shares expiring, and US players at
ATHs (all-time highs) could be a cocktail for interesting moves in 2024," the UK bank says in a
note.
    Citing recent company comments, Barclays adds that DoorDash  DASH.O  and Uber  UBER.N  could
be possible buyers. On the other hand, the European peers and potentially Instacart  CART.O 
could be involved in industry consolidation.
    The analysts see growth for the global food delivery industry as consistently solid in low
double digits this year.
    "This is a healthy growth rate, and relative to many e-commerce verticals we have real
confidence that this industry, in aggregate, can grow nicely and drive strong incremental
margins from here," they add.
    They keep their positive view on Uber and Instacart in the U.S. and Delivery Hero  DHER.DE 
and Deliveroo  ROO.L  in Europe.
    Once pandemic-era darlings, shares in delivery firms have moved off highs in the last two
years, but are recouping some losses so far this year.    
    (Anna Pruchnicka)
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    FOR THURSDAY'S OTHER LIVE MARKETS POSTS
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    SUMMER CUTS DRIFTING AWAY CLICK HERE

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delivery firms    https://tmsnrt.rs/3UdLgjm
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