WASHINGTON (dpa-AFX) - DoorDash, Inc. (DASH), a food delivery service provider, said on Thursday that it has inked a deal to buy Maplebear Inc. (CART), doing business as Instacart, for a total of $65 per share, or around $17 billion. The company will pay at least 75% of the total consideration in cash.
Instacart shareholders will receive $65 cash for each CART share, or 0.3372 DASH share for each CART share, or a mix of $48.75 in cash and 0.0843 DASH share for each CART share. The value of $65 per Instacart share represents a 26% premium to Instacart's closing price on October 22.
The acquirer expects to fund the cash portion of the consideration with cash on hand and debt. The company has entered into a financing commitment letter with JPMorgan Chase Bank, N.A. for a 364-day senior unsecured bridge loan facility. The transaction is expected to close in the end of 2027 or the first half of 2028.
Tony Xu, CEO of DoorDash, said: 'Together, we could give stores of every size more of those tools and unlock the potential of grocery delivery. It's still early innings, but we know that when more people shop local, more dollars stay local.'
DASH was up by 6.05% at $179.75 in the pre-market trade on the Nasdaq. CART was up by 0.32% at $58.61 in the pre-market trade on the Nasdaq.
Copyright(c) 2026 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2026 AFX News
