Instacart shares rise as DoorDash takeover may reportedly be announced Thursday
DASH•Instacart shares rose about 4% in extended trading after a report said DoorDash’s acquisition of the grocery delivery platform could be announced as early as Thursday morning. The deal is valued at about $17 billion; a source familiar with the matter said Monday it had been expected to be finalized as soon as Wednesday.
1. Possible announcement
Instacart shares rose about 4% to $60.48 in extended trading, while DoorDash shares fell about 2% to $165.01 after the bell. The acquisition could be announced as early as Thursday morning.
2. Deal timing and value
The deal is valued at about $17 billion. A source familiar with the matter said Monday that it had been expected to be finalized as soon as Wednesday. As of the last close, Instacart shares were up about 30% year to date and DoorDash shares were down about 25%.
