Autonomous vehicle startup Aurora in talks to merge with Reid Hoffman's SPAC
Add BT as a preferred source[BENGALURU] Self-driving car startup Aurora is nearing a deal to merge with blank-check firm Reinvent Technology Partners Y, which is backed by Silicon Valley heavyweights Reid Hoffman, Mark Pincus and Michael Thompson, TechCrunch reported on Friday.
The targeted valuation, which had been as high as US$20 billion, is now closer to US$12 billion, according to the report, citing people familiar with the matter.
The deal is expected to be announced as early as next week, TechCrunch reported.
Aurora and Reinvent Technology Partners Y did not immediately respond to Reuters' requests for comment.
REUTERS
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