DoorDash-Instacart $17B Deal Could Be Announced Thursday Morning
DASH sits 19% above its 52-week low of $143.3.
Summary
CNBC sources say DoorDash's acquisition of Instacart could be announced as early as Thursday morning, firming up a timeline on the roughly $17 billion deal reported earlier this week. DoorDash is the acquirer and the primary party here; Instacart (CART) is the target. The price tag is large relative to DoorDash's market value, so the terms — cash versus stock mix and any assumed debt — will drive the reaction. This lands after a strong Q2 (revenue up 36% to $4.5 billion) and a string of expansion moves into retail and grocery, making the deal a direct extension of that push. Watch Thursday morning for the official terms; the cash/stock split and any financing are the key details still unknown.
At the time of this announcement, DASH was trading at $170.75 on NASDAQ in the Technology sector, with a market capitalization of approximately $73.4B. The 52-week trading range was $143.30 to $268.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.