UK’s Deliveroo suspends share buyback after DoorDash buyout offer

British meal delivery company Deliveroo suspended its £100 million ($133.13 million) share buyback program on Monday, days after it said it had received a proposal from US peer DoorDash. On Friday, Deliveroo said it had received a £2.7 billion takeover proposal from DoorDash on April 5 and would likely recommend the 180 pence-per-share offer to shareholders, subject to agreement on other terms.

The deal is expected to face no regulatory hurdles, as it provides DoorDash access to 10 new markets where it currently has no presence, creating a highly…