Symbotic in $4.5B merger talks with SoftBank SPAC - report

Monday, 18. October 2021 18:46

Symbotic, a warehousing automation supplier, is in merger talks with SoftBank Group Corp.'s special purpose acquisition company (SPAC) SVF Investment Corp. 3, Sky News reported on Monday.

The potential agreement would value the new entity at $4.5 billion, sources told the news organization.

Symbotic is backed by Walmart Inc., which in the case of an agreement is expected to participate in private investment in public equity (PIPE) offering, Sky News said.

Related Links: Walmart Inc.Softbank Group Corporation
Author:
Baha Breaking the News (BBN) / MD