Grab Valued At Nearly $40B In SPAC Deal Delivered By 5 Firms

By Benjamin Horney (April 13, 2021, 10:52 AM EDT) -- Singapore-based Grab Holdings will hit the U.S. public markets by merging with a private equity-backed special purpose acquisition company at a valuation of roughly $39.6 billion, the companies said Tuesday, in a deal put together by five law firms.

The agreement unites Grab Holdings Inc. with Altimeter Growth Corp., and the deal is expected to be the largest U.S. equity offering by a Southeast Asian company in history, according to a statement. The resulting entity will list on the Nasdaq Stock Market under the ticker symbol "GRAB."

Skadden Arps Slate Meagher & Flom LLP and Hughes Hubbard & Reed LLP are...

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