SINGAPORE: South-East Asia’s biggest ride-hailing and food delivery firm Grab Holdings agreed to a merger yesterday with United States-based Altimeter Growth Corp in a deal that values Grab at an initial proforma equity value of about US$39.6bil (RM163bil) and will lead to a public listing.
The merger, the biggest blank-cheque company deal ever, underscores the frenzy on Wall Street as shell firms have raised US$99bil in the US so far this year after a record US$83bil fundraising in 2020.
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