DoorDash plans to acquire Instacart for $65 per share, integrating grocery business and subscription services

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DoorDash outlined its plan to acquire Instacart for $65 per share at its third-quarter earnings call. The transaction still requires approval from Instacart shareholders and the satisfaction of other closing conditions. DoorDash plans to retain the Instacart brand, integrate restaurant merchant listings into Instacart, and allow DashPass members to receive both subscriptions at the current price. Management expects the combined business to contribute $500 million in annual profit by the third year.