Autonomous vehicle startup Aurora in talks about merger with Reid Hoffmans SPAC

(Reuters) – Self-driving auto startup Aurora is about to merge with blank check company Reinvent Technology Partners Y, backed by Silicon Valley heavyweights Reid Hoffman, Mark Pincus and Michael Thompson, TechCrunch reported on Friday.

According to the report, citing people familiar with the matter, the targeted valuation, which was previously $ 20 billion, is now closer to $ 12 billion.

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)

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