DoorDash struck a deal to acquire British food-delivery company Deliveroo for around 2.9 billion pounds ($3.86 billion) following an initial approach last month, in a move aimed at increasing DoorDash’s global presence.

San Francisco-based DoorDash plans to pay shareholders 180 pence in cash for each share they hold. That represents a premium of around 44% over Deliveroo’s closing price of 125 pence on April 4, prior to DoorDash’s offer letter.