Grab to unveil world's biggest Spac merger, valued at nearly US$40 billion - sources

Southeast Asia's biggest ride-hailing and food delivery firm Grab Holdings will announce as early as Tuesday a merger with US-based Altimeter that will value Grab at nearly US$40 billion and lead to a public listing, four people told Reuters.

The merger, which will be the biggest blank-check company deal ever, underscores the frenzy on Wall Street as shell firms have raised US$99 billion in the United States so far this year after a record US$83 billion fundraising in 2020...