(Reuters) – 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 $20 billion, is now closer to $12 billion, according to the report https://tcrn.ch/3g8HJO1, 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.
(Reporting by Eva Mathews in Bengaluru; Editing by Anil D’Silva)
