Uber Tells Investors It Wouldn’t Pay Above $2 Billion for Lyft

As Lyft Inc. was gauging interest from prospective acquirers, executives from Uber Technologies Inc. told investors in the past few weeks that the company wouldn't pay more than $2 billion to purchase its main U.S. ride-hailing competitor, said people familiar with the matter.

Uber didn't make a formal offer, said the people, who asked not to be named because the discussions were private. Uber had previously considered purchasing Lyft as far back as 2014, and the two San Francisco companies have discussed the prospect informally, one of the people said. Despite executives floating the $2 billion price tag, Uber Chief Executive Officer Travis Kalanick has said privately that he would not support such a deal because he believes it would face intense regulatory scrutiny, the person said.