MW Altimeter Growth shares jump premarket on FT report it'll merge with Singapore's Grab
Shares in Altimeter Growth 1 $(AGC)$, a special purpose acquisition company operated by Altimeter Capital, rose 19% in premarket trade after the Financial Times said it's in talks to merge with Singapore food delivery and payment service Grab. Grab will raise $2.5 billion in total financing, with nearly $1.2 billion coming from Altimeter in the deal that will give Grab a valuation near $35 billion, the report said. The figures could still change depending on talks with investors, the report added.
-Steve Goldstein; 415-439-6400; AskNewswires@dowjones.com
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April 07, 2021 05:53 ET (09:53 GMT)
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