DoorDash to acquire Instacart in $17 billion deal

Investing.com -- DoorDash agreed to acquire grocery-delivery rival Instacart for approximately $17 billion, confirming takeover speculation that sent Instacart shares higher earlier this week while weighing on DoorDash stock. Still guessing which stocks will beat the market? Our AI portfolio updates monthly and is outperforming the S&P 500 by 118%. See this month's list » Under the definitive agreement announced Thursday, DoorDash will pay $65 per Instacart share, with at least 75% of the consideration in cash. Instacart shareholders can elect cash, DoorDash stock or a combination, subject to proration and a cap on stock consideration. Instacart's board unanimously approved the deal.