Shares of Deliveroo, the food delivery service based in London, are hitting three-year highs on Monday after it received a $3.6 billion proposed takeover offer from DoorDash.

(Reuters) -British meal delivery company Deliveroo said on Friday it had received a proposal from DoorDash 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 for the company by May 23.

Shares in meal delivery company Deliveroo jumped 17% today, the first trading session after it said it had received a $3.6 billion cash buyout proposal from US peer DoorDash.