Grab Holdings, the Southeast Asian ride-hailing and delivery giant, has attracted backing from T. Rowe Price Group and Temasek Holdings for its planned merger with a blank-check company, people with knowledge of the matter said.

The firms have expressed interest in joining a private investment in public equity offering, or PIPE, to support Grab’s combination with Altimeter Growth Corp, the people said, asking not to be identified because the talks are private. BlackRock is also in talks to participate in the PIPE, which could raise about US$4 billion ($5.36 billion), according to the people.

Singapore-based Grab aims to announce the SPAC merger as soon as next week, the people said. The deal could value Grab at more than US$34 billion, the people said.

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