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DoorDash rises after striking $17 billion deal for rival Instacart

By Reuters News

** Shares of DoorDash DASH.O up ~7% at $180.56 premarket; shares of Instacart CART.O flat at $58.39 premarket

** DoorDash says it will buy Instacart in a deal valued at $17 billion as it looks to expand into the US grocery delivery market

** DASH offers CART shareholders $65 per share, implying a premium of about 26% to the stock's close on October 22, before initial reports of deal talks

** CART shares have risen about 13% since October 22

** The transaction is expected to close at the end of 2027 or the first half of 2028

** DASH also reports better-than-expected third quarter revenue

** Up to last close, DASH down about 25% YTD, CART up about 30% YTD

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