Grab advances GoTo takeover talks, begins due diligence – Bloomberg

Investing.com-- Grab Holdings Ltd (NASDAQ:GRAB) has started due diligence on Indonesia’s GoTo Group (JK:GOTO) as it moves forward with a potential takeover, Bloomberg News reported on Tuesday citing sources familiar with the matter.

The Singapore-based ride-hailing and delivery firm is reviewing GoTo’s financials, contracts, and operations as part of ongoing discussions, the report said.

Grab, GoTo, and their shareholders are also evaluating possible deal structures and valuations, though talks remain preliminary and may not result in a transaction, Bloomberg reported.

Bloomberg previously reported that Grab is considering a valuation of more than $7 billion for GoTo, with one option being an all-stock acquisition at over 100 rupiah per share.

A merger has long been discussed but faced hurdles, including potential antitrust concerns, given the firms’ dominant positions in Southeast Asia’s tech sector, according to the report.

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