<p>Southeast Asia's biggest ride-hailing and food delivery firm Grab Holdings agreed a merger on Tuesday with US-based Altimeter Growth Corp in a deal that values Grab at an initial proforma equity value of about $39.6 billion and will lead to a public listing</p>.<p>The merger, the biggest blank-check company deal ever, underscores the frenzy on Wall Street as shell firms have raised $99 billion in the United States so far this year after a record $83 billion fundraising in 2020.</p>.<p>Singapore-based Grab's agreement with a special purpose acquisition company backed by Altimeter Capital includes a more than $4 billion private investment in public equity by investors including BlackRock, Fidelity International, Janus Henderson Investors and Temasek Holdings.</p>.<p>Grab said its decision to become a public company was driven by strong financial performance in 2020, despite the pandemic.</p>.<p>Reuters earlier reported that Grab would announce the deal on Tuesday. </p>
<p>Southeast Asia's biggest ride-hailing and food delivery firm Grab Holdings agreed a merger on Tuesday with US-based Altimeter Growth Corp in a deal that values Grab at an initial proforma equity value of about $39.6 billion and will lead to a public listing</p>.<p>The merger, the biggest blank-check company deal ever, underscores the frenzy on Wall Street as shell firms have raised $99 billion in the United States so far this year after a record $83 billion fundraising in 2020.</p>.<p>Singapore-based Grab's agreement with a special purpose acquisition company backed by Altimeter Capital includes a more than $4 billion private investment in public equity by investors including BlackRock, Fidelity International, Janus Henderson Investors and Temasek Holdings.</p>.<p>Grab said its decision to become a public company was driven by strong financial performance in 2020, despite the pandemic.</p>.<p>Reuters earlier reported that Grab would announce the deal on Tuesday. </p>