Southeast Asian ride-hailing startup Grab Holdings is discussing a deal with a special-purpose acquisition company affiliated with Altimeter Capital Management that would value it at between $35B and $40B, Maureen Farrell of Wall Street Journal reports, citing people familiar with the matter. Altimeter has two SPACS – Altimeter Growth (AGC) and Altimeter Growth 2 (AGCB). As part of the deal, Grab would raise between $3B and $4B in a PIPE, sources told the Journal. The parties could announce the deal in the next few weeks, though the talks could still fall apart and Grab could revert to an earlier plan to stage a traditional initial public offering on a U.S. exchange this year, they added.