Grab Stock Soars 7.6% Premarket As It Is Said to Move Forward With Talks to Acquire Rival GoTo
Grab shares jumped 7.6% in premarket trading. Bloomberg reported that Grab Holdings Ltd. is moving forward with its attempt to take over GoTo Group, according to people familiar with the matter, who said the Singaporean ride and delivery firm has begun due diligence on its Indonesian rival.
Grab has been evaluating GoTo’s accounts, contracts and operations, the people said, asking not to be identified because the companies haven’t announced a deal. Grab, GoTo and their shareholders have also been assessing the potential structure and value of an agreement, the people said.
Talks are ongoing and may not lead to a transaction, the people said.
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