Instacart talks to DoorDash and Uber about potential sale
Instacart has hired an investment bank to evaluate options while holding acquisition talks with DoorDash and Uber.
Investment bank hired for evaluation
The grocery delivery company engaged an investment bank to help assess its strategic options. Multiple news reports confirm that the firm is currently exploring whether to sell itself.
DoorDash and Uber discussions
Instacart held acquisition talks with DoorDash according to reports from The Information. Bloomberg noted that Uber also entered discussions but reportedly walked away from those negotiations.
Market reaction to news
Instacart shares rose more than 9.2% on Friday after the sale rumors emerged. Conversely, stock prices for both DoorDash and Uber declined during the same trading session.
Reported by one outlet
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