SINGAPORE -- The plan by Singapore tech group Grab to become a U.S. listed public company via a merger with a special purpose acquisition company, or SPAC, is a landmark deal in both the company's old and new homes.
Grab's plan for a listing that would value it at almost $40 billion makes it the largest such deal to use a SPAC, after an unprecedented rush on Wall Street to create such "blank check" listing vehicles that are then used to acquire companies.
