Maplebear Inc., the operator of the Instacart grocery delivery platform, filed a current report on October 29, 2026 disclosing that it entered into an Agreement and Plan of Merger with DoorDash, Inc. on October 28, 2026, under which each Maplebear share may be converted into cash, DoorDash stock, or a combination of both, subject to stockholder and regulatory approvals.

Key Highlights

  • Merger agreement signed: Maplebear Inc. and DoorDash, Inc. entered into an Agreement and Plan of Merger on October 28, 2026, with Ibiza Merger Sub, Inc. serving as the merger subsidiary.
  • Cash election: Stockholders who make a Cash Election will receive $65.00 per share in cash, without interest.
  • Stock election: Stockholders who make a Stock Election will receive 0.3372 shares of DoorDash Parent Class A Common Stock per Maplebear share.
  • Mixed election: A Mixed Election entitles holders to $48.75 in cash plus 0.08430 shares of DoorDash Parent Class A Common Stock per share.
  • Board recommendation: The Maplebear Board of Directors unanimously approved the Merger Agreement and recommended that stockholders adopt it.
  • Alternative stock consideration: DoorDash may elect, prior to the earlier of March 31, 2027 or three months before closing, to issue Parent Class C Common Stock in lieu of Parent Class A Common Stock, subject to specified conditions.
  • Regulatory clearances required: Closing conditions include HSR Act waiting period expiration as well as clearances under Canada's Competition Act and Israel's Economic Competition Law-1988.

DoorDash Acquisition of Maplebear: Election Choices and Closing Requirements

According to the filing, Maplebear Inc. (NASDAQ:CART), a Delaware corporation headquartered at 50 Beale Street, Suite 600, San Francisco, California, operates the Instacart platform and entered the Merger Agreement on October 28, 2026. Under the terms described, Merger Sub will merge with and into Maplebear, with Maplebear continuing as the surviving corporation and becoming a wholly owned subsidiary of DoorDash. The filing states that the Maplebear Board of Directors unanimously approved the agreement and has recommended stockholder adoption.

The filing details three election pathways for Maplebear stockholders. A Cash Election results in $65.00 per share in cash, without interest. A Stock Election results in 0.3372 shares of DoorDash Parent Class A Common Stock. A Mixed Election results in $48.75 in cash plus 0.08430 shares of Parent Class A Common Stock. Shares for which no valid election is received by the Election Deadline are treated as Non-Election Shares and receive the Cash Consideration. The filing discloses that the Form of Election will be mailed to record holders no fewer than 20 business days before the anticipated election deadline, with the deadline set at 5:00 p.m. local time three business days before the parties' good-faith estimate of the closing date.

The filing further describes a proration mechanism limiting the total shares issued in the stock portion of the merger consideration. DoorDash retains the option to substitute Parent Class C Common Stock for Parent Class A Common Stock as the stock consideration, but that election must be made no later than the earlier of March 31, 2027 or three months before closing, and requires that DoorDash first issue a dividend of at least 0.5 shares of Parent Class C Common Stock on each outstanding share of Parent Class A and Parent Class B Common Stock. If Class C shares are issued and their closing price is lower than the Class A closing price, the applicable exchange ratios would be adjusted upward so that Maplebear stockholders receive equivalent value, according to the filing.

What Was Disclosed

Maplebear Inc. disclosed a signed Agreement and Plan of Merger with DoorDash, Inc. dated October 28, 2026, providing Maplebear stockholders with cash, stock, or mixed election options. The transaction requires stockholder approval, HSR clearance, and additional regulatory approvals in Canada and Israel before it can close.