Julia Kollewe

Co-founder and CEO Will Shu in line for a £172m payout and staff will receive nearly £66m from deal

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The food delivery company Deliveroo has agreed a £2.9bn takeover by its US rival DoorDash that will result in a near-£66m payday for its staff.

The London-based delivery company, which was founded in 2013 by Will Shu and Greg Orlowski, received an offer worth 180p a share last month and on Tuesday its board recommended the deal to shareholders.

Industry says levies would hit supply chains, making medicines potentially unaffordable for some US patients

Americans would suffer most if Donald Trump imposed tariffs on imports of pharmaceuticals, as medications would become more expensive and potentially unaffordable for some people, drugmakers have warned.

Drugmakers have been braced for targeted border taxes – similar to the 25% levies on steel, aluminium and car imports – after the US president threatened to hit the sector and announced an investigation last month. Last week, Trump hinted at a possible reprieve for companies, saying they would be given time to move their operations to the US, But “after that it’s going to be a tariff wall put up, and they won’t be happy about it,” he added.