Polestar in Advanced Talks to Merge with SPAC Gores Guggenheim (GGPI) in Deal Valuing EV Maker at $21B - WSJ
- Wall Street ends higher as investors bet on positive earnings season
- Netflix (NFLX) Q3, Q4 Subscriber Guidance Beats on 'Squid Game' Success
- Walmart (WMT) Added to Goldman's Conviction Buy List, Target (TGT) Removed
- SpaceX: If Elon Musk Were to Become the First Trillionaire, it Won't be Because of Tesla (TSLA)
- Johnson & Johnson (JNJ) Reports a Beat-and-Raise 3Q, Analyst Positive
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
Swedish EV maker Polestar is near a deal to merge with SPAC Gores Guggenheim, Inc. (NASDAQ: GGPI), the Wall Street Journal reported citing people familiar with the matter.
The deal would value Polestar at $21 billion, the report added.
Polestar is owned by Chinese carmaker Zhejiang Geely and backed by investors including actor Leonardo DiCaprio.
Polestar will also receive an additional $250 million investment as part of the deal.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- CDW (CDW) Acquires Sirius Computer Solutions for $2.5B Cash
- Tesla (TSLA) Extends Gain, Up 1.8%
- GS Acquisition Holdings Corp II (GSAH) Expected to Close Business Combination with Mirion Technologies on October 20
Create E-mail Alert Related CategoriesHot M&A, Mergers and Acquisitions, Rumors, SPAC
Related EntitiesTesla, Guggenheim, SPAC
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!