Grab is said to announce deal with Altimeter Growth Corp (AGC) next week - Bloomberg

(Updated - April 9, 2021 12:20 PM EDT)

Grab has attracted backing from T. Rowe Price Group (NASDAQ: TROW) and Temasek Holding for its planned merger with a blank-check company, according to Bloomberg, citing people with knowledge of the matter.

The firms expressed interest in joining a PIPE offering to support a combination with Altimeter Growth Corp (NASDAQ: AGC). BlackRock (NYSE: BLK) is also in talks to participate in the PIPE, which could raise about $4 billion.

Grab aims to announce the SPAC merger as soon as next week.

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