Walmart Inc backed robotics and automation company, Symbotic is finalizing plans for a $4.5 billion merger with SoftBank Group Corp’s special purpose acquisition company SVF Investment Corp 3, Sky News reported on Sunday.
An agreement could be announced as soon as this week, the report said, adding that the U.S.-based retail giant will participate in the deal’s Private Investment In Public Equity (PIPE) round.
SoftBank, Walmart and Symbotic did not immediately respond to Reuters requests for comment outside business hours.
Sky News had reported in October that Symbiotic and SVF Investment Corp 3 were in talks for merger.
Sky News had also reported in June that the SPAC was looking for a new merger partner after talks with location data services provider Mapbox reportedly collapsed.
Source: Reuters.com