Grab to list in US via $40 bln merger with Altimeter Growth

HONG KONG (AP) — Southeast Asia’s largest ride-hailing company, Grab Holdings, said Tuesday that it plans to merge with U.S.-based Altimeter Growth Capital in a deal that would value it at nearly $40 billion and allow it to trade on the Nasdaq Stock Market. This would be the largest merger ever involving a SPAC, or special purpose acquisition company, more than double current record-holder United Wholesale Mortgage’s $16 billion merger in January. The merger will make Grab the most valuable Southeast Asian company to list shares in the U.S. After the deal closes, the combined company expects to trade under the ticker “GRAB.”