Grab Holdings Inc. is in talks to go public through a merger with a SPAC that could value the Southeast Asian ride-hailing startup at as much as $40 billion, making it by far the largest such deal on record.
The Singapore company is discussing a deal with a special-purpose acquisition company affiliated with Altimeter Capital Management LP that would value it at between $35 billion and $40 billion, according to people familiar with the matter. As part of the deal, Grab would raise between $3 billion and $4 billion in a so-called PIPE, a funding round that typically accompanies a SPAC merger, the people said. That amount could still change as Grab and Altimeter will start meeting with mutual funds and other potential investors soon, some of the people said.
The parties could announce the deal in the next few weeks, though the talks could still fall apart and Grab could revert to an earlier plan to stage a traditional IPO on a U.S. exchange this year. Should they move forward with a SPAC deal, it would be the high water mark in a recent explosion of such transactions, in which an empty shell raises money in an initial public offering with plans to later find one or more companies to merge with. In some cases the SPAC ends up with only a small sliver of the newly public target.
Am so delighted to share this, investing on Bitcoin has been so wonderful with the help of Mr Rene who have been doing all the trading. I invested 5000$ and in two weeks I have earned 20,000$. Trust me this is the best investment platform, contact the Admin 👇👇👇 abrantesrene
It's boring to sit at home alone, looking for someone to spend time with
l