Walmart-backed robotics group Symbotic in $4.5bn talks to merge with SoftBank SPAC | SkyNews

A robotics and automation firm sponsored by Walmart, the world’s largest merchant, is in negotiations to merge with a “blank cheque” firm set up by SoftBank, Japan’s largest technology company. Symbotic is in talks with SVF Investment Corp 3, a New York-listed special purpose acquisition company (SPAC), regarding a deal that would value the combined corporation at around $4.5 billion (£3.3 billion). If the contract is made successfully, Walmart is likely to join other investors in the capital-raising portion of the deal known as the PIPE (private investment in public equity). 

Source: https://news.sky.com/story/walmart-backed-robotics-group-symbotic-in-4-5bn-talks-to-merge-with-softbank-spac-12437669