DoorDash Stock Edges Up on Reported $17 Billion Instacart Acquisition Talks

DoorDash (NASDAQ: DASH) stock rose 0.43% in premarket trading on Tuesday following reports that the company is in advanced talks to acquire grocery-delivery rival Instacart (NASDAQ: CART) in a potential $17 billion transaction. The Wall Street Journal reported Monday, citing people familiar with the matter, that the companies could reach an agreement as soon as this week. Reuters subsequently reported that the companies could finalize a deal as early as Wednesday, although negotiations could still fall apart. The reported $17 billion valuation would be approximately 42% higher than Instacart’s estimated $12 billion market capitalization before reports of a possible sale emerged last Friday. Semafor reported that DoorDash was negotiating exclusively with Instacart, while Reuters said Instacart’s earlier discussions with Uber Technologies were no longer active.

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