British meal delivery company Deliveroo said on Friday it received a proposal from U.S. peer DoorDash DASH-Q on April 5 to buy all of its shares for 2.7 billion pounds ($3.60-billion). DoorDash will need to make a firm offer by May 23. The company did not immediately respond to a Reuters request for comment. Deliveroo’s shares have weakened nearly 50 per cent since their 2021 debut as demand for online food delivery stagnated after the pandemic and investors shifted toward more profitable companies. In March, Deliveroo announced its exit from Hong Kong, selling some assets to Delivery Hero’s foodpanda. The Hong Kong operations were loss-making and represented about 5 per cent of the company’s overall transactions. Last year, Reuters reported DoorDash had shown interest in a takeover of Deliveroo, but a source said talks ended after disagreements on valuation. A deal between the two firms would help DoorDash solidify its footprint in Europe, after the U.S. meal delivery group’s 2021 purchase of Finland-based rival Wolt Enterprises in an all-stock deal valued at about $8-billion.