$17 billion acquisition emerges: DoorDash (DASH.US) in advanced talks to acquire Instacart, official announcement expected as early as this week
DoorDash plans to acquire Instacart's parent company Maplebear for approximately $17 billions, with an official announcement expected as early as this week. Maplebear shares rose 7.9%, while DoorDash fell 6.1%. The negotiations may fall through.
Zhitong Finance APP has learned from informed sources that DoorDash (DASH.US) is in advanced talks to acquire Instacart’s parent company Maplebear (CART.US), in a deal valued at approximately $17 billion.
According to the sources, this transaction targeting the fresh grocery delivery app could be announced as soon as this week. No final decision has been made yet, and discussions could still fall through.
Representatives from DoorDash and Maplebear have not immediately responded to requests for comment.
On Monday, Maplebear’s share price rose by 7.9% in the New York market, closing at $60.88, with a market capitalization of about $14.1 billion. DoorDash’s share price fell 6.1%, closing at $168.44, with a market capitalization of about $73 billion.
The negotiations come at a time when competition in the fresh grocery delivery sector is intensifying. According to previous media reports, Instacart had also been in talks about a possible sale to Uber (UBER.US).
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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