Grab (GRAB) and GoTo (GTOFF) are in talks to offer Indonesia’s sovereign wealth fund, Danantara, a “golden share” to secure approval for a potential $29B merger, The Financial Times’ A. Anantha Lakshmi, Owen Walker, and David Keohane report. The proposal includes giving Danantara a minority stake with special rights over the Indonesian operations, including influence on matters such as driver pay, according to two people familiar with the matter.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GRAB:
- Grab Holdings price target raised to $7 from $6.50 at Barclays
- Midday Fly By: Insurers slip as Senate spending bill lacks ACA extension
- Grab Holdings Ltd call volume above normal and directionally bullish
- Indonesia discussing plans to merge Grab, GoTo, Reuters reports
- Grab Announces Strategic Investment in Remote Driving Tech Firm Vay