DoorDash (DASH) shares are in focus this morning after the food delivery giant confirmed plans of buying its U.K.-based peer Deliveroo (DLVEY) for about $3.9 billion. The agreement is unlikely to face regulatory hurdles as DoorDash does not have a meaningful presence in any of the 10 core markets that Deliveroo currently serves.

U.S. meal delivery firm DoorDash will buy Deliveroo in a deal valuing the British rival at about 2.9 billion pounds ($3.85 billion), the companies said, banking on a bigger reach and local expertise to take on competition.