Instacart explores sale after talks with Uber and DoorDash

Instacart is exploring a possible sale and has held preliminary discussions with Uber and DoorDash, according to a report citing people familiar with the matter. The talks are at an early stage, and no deal is assured. A later account said Uber walked away after Instacart approached it, while discussions with other companies continued; no buyer has made a formal bid and neither company confirmed talks. Instacart declined to comment on the reported sale discussions. The company is working with an investment bank to assess its options, according to the reporting. The status of any remaining buyer interest has not been confirmed by the companies. Instacart had a market value of about $12 billion in one account, while another put it at roughly $13 billion. A typical acquisition premium of 30% to 40% would imply an illustrative value of about $16 billion to $17 billion, based on the roughly $12 billion valuation. That range is an estimate, not an offer or agreed sale price. The potential deal would bring a grocery marketplace and retailer relationships to either prospective buyer, both of which operate delivery businesses. A combination could also face antitrust scrutiny because...