TDOC - SPAC Alkuri Global gains on report close to a deal to take startup Babylon public

SPAC Alkuri Global Acquisition (KURI) rose almost 1% after a report that the company is near a deal to take telehealth Babylon public in a deal valued at about $3.5B.Talks are in advanced stage and a transaction may come as soon as next week, according to Bloomberg, which cited people familiar. The deal involve a $270M PIPE.Bloomberg originally reported on a potential deal last month and said Babylon may be valued at $3B to $4B in a deal.Babylon connection patients and doctors via an app. Babylon competes with Teladoc Health (TDOC).Alkuri is run by Groupon’s former CEO Rich Williams and ex-COO Steve Krenzer.Earlier this month, Teladoc CEO says virtual care is here to stay.

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SPAC Alkuri Global gains on report close to a deal to take startup Babylon public