Mergers & Acquisitions ·
DoorDash agrees to acquire Instacart for $65.00 per share in an approximately $17 billion deal
DASHDoorDash, Inc.
DoorDash, Inc. entered into a definitive Agreement and Plan of Merger with Maplebear Inc. (d.b.a. Instacart) under which DoorDash will acquire Instacart for an aggregate equity value of approximately $17 billion. Each share of Instacart common stock will be converted into the right to receive $65.00 in cash, 0.3372 shares of DoorDash Class A Common Stock, or a combination of $48.75 in cash and 0.0843 shares of DoorDash Class A Common Stock, subject to proration so that stock consideration does not exceed 25% of the aggregate consideration. The transaction is expected to close at the end of 2027 or in the first half of 2028, pending approval by Instacart stockholders and regulatory clearances including Hart-Scott-Rodino waiting periods. DoorDash has secured a $13.0 billion senior unsecured bridge loan facility from JPMorgan Chase Bank to finance the cash portion of the consideration. DoorDash operates in the local commerce and food delivery industry.