DoorDash's bid to buy Instacart could be announced as soon as Thursday morning, sources familiar with the matter told CNBC.
Speculation of a deal has swirled since last week, when The Information reported Instacart was exploring a sale and had held talks with companies including Uber and DoorDash. On Monday, several outlets reported DoorDash was in advanced discussions to acquire Instacart and that the deal could value Instacart at about $17 billion.
Instacart's stock popped about 4% in extended trading on Wednesday, while DoorDash shares fell less than 1%.
Acquiring Instacart would give DoorDash a bigger presence in online grocery delivery. DoorDash got its start in food delivery, but it has increasingly added more retailers to its marketplace, such as Sephora, Macy's, Staples and Anthropologie.
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