DoorDash rises after striking $17 billion deal for rival Instacart
DASH•DoorDash will buy Instacart for $17 billion, offering shareholders $65 per share, a premium of about 26% to Instacart’s October 22 closing price. DoorDash shares rose about 7% premarket, while Instacart shares were flat; DoorDash also reported better-than-expected third-quarter revenue.
1. Deal terms and timing
DoorDash will acquire Instacart in a deal valued at $17 billion, offering Instacart shareholders $65 per share. The offer represents a premium of about 26% to Instacart’s October 22 closing price, before initial reports of deal talks. The transaction is expected to close at the end of 2027 or in the first half of 2028.
2. Premarket trading
DoorDash shares were up about 7% at $180.56 premarket, while Instacart shares were flat at $58.39. Instacart shares have risen about 13% since October 22. DoorDash also reported better-than-expected third-quarter revenue.
