DoorDash has agreed to acquire Instacart for $17 billion, valuing shares at $65 each.
The agreement preserves Instacart's brand and enterprise technology products as separate entities until the transaction closes between late 2027 and early 2028.
Under the terms, DoorDash will pay $65 for each share of Instacart. The boards of directors of both companies have already given their approval.
How will companies continue to operate?
DoorDash plans to retain Instacart's brand, app and technology products. Until the acquisition is complete, the two companies will continue to operate as separate and independent businesses.
Before reaching this deal, reports had reported that Instacart was in talks with Uber, but those talks had been halted.
When is the deal expected to be completed?
Completion of the process is expected towards the end of 2027 or the first half of 2028.
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