DASH · 8-K · 20261029PR041111

Acquisition / Partnership / Divestiture

DoorDash, Inc. · 2026-10-29 · Importance 86 · Surprise 84 · No source text

DoorDash agreed to acquire Instacart for $65.00 per share, an equity value of approximately $17 billion and a 26% premium to Instacart’s October 22, 2026 closing price. At least 75% of the consideration will be cash; stockholders may elect cash, DoorDash stock, or a mix, with DoorDash stock capped at 25% of aggregate consideration and subject to proration. DoorDash expects to fund the cash portion with cash on hand and debt financing, and has a commitment from JPMorgan Chase for a 364-day senior unsecured bridge loan facility; the transaction has no financing condition, and DoorDash is targeting an investment-grade capital structure. The companies expect closing at the end of 2027 or in the first half of 2028, subject to stockholder and regulatory approvals and other customary conditions; holders of about 19% of Instacart shares have agreed to vote for the deal.

Key facts

• DoorDash, Inc. agreed to acquire Instacart for $65.00 per Instacart share, representing an equity value of approximately $17 billion. source
• Instacart stockholders may elect $65.00 cash, 0.3372 DoorDash common shares, or a combination of $48.75 cash and 0.0843 DoorDash common shares per Instacart share, subject to a 25% cap on aggregate stock consideration and proration. source
• The transaction values Instacart at $65.00 per share, a 26% premium to its October 22, 2026 closing price. source
• At least 75% of the aggregate transaction consideration will be cash, and DoorDash stock will not exceed 25% of the aggregate consideration, subject to proration. source
• DashPass and Instacart+ members would pay one membership fee instead of two, with estimated savings of $100 million per year on membership fees alone. source
• The acquisition is expected to close at the end of 2027 or in the first half of 2028. source
• Stockholders holding about 19% of Instacart’s outstanding shares have agreed to vote in favor of the acquisition. source
• After closing, DoorDash expects to retain Instacart’s brand, enterprise technology products, and app. source

Impact estimates