Instacart explores sale to Uber or DoorDash in talks worth up to $17B
What's new: Instacart shares jumped about 9%, while a deal could face antitrust scrutiny after Uber's $15 billion Delivery Hero buy.
Instacart is exploring a possible sale and has held early talks with Uber and DoorDash, according to a report by The Information cited by Reuters. Based on its recent market value of about $12 billion, a typical takeover premium could put the grocery-delivery company at roughly $16 billion to $17 billion. Instacart shares rose about 9% on Friday, while Uber fell around 3% and DoorDash dropped 4%. A deal would strengthen either buyer's push in online grocery by pairing Instacart's retailer relationships and marketplace with a larger delivery network, but it could also draw antitrust scrutiny. The talks are ongoing and may not lead to a transaction.