Grab Holdings (GRAB) is considering a takeover of rival GoTo Group at a valuation of over $7 billion, Bloomberg reported Tuesday, citing people familiar with the matter.
Grab is discussing an all-stock purchase valuing shares of GoTo at more than 100 Indonesian rupiah each, representing a roughly 20% premium over its current stock price, the people reportedly told Bloomberg.
Grab did not immediately reply to a request for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Price: 5.18, Change: +0.64, Percent Change: +14.07
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.