• SoftBank to abandon $3 billion deal for additional WeWork shares

    1 month ago - By Reuters

    Japan's SoftBank Group Corp will not complete a $3 billion tender offer for additional WeWork shares agreed last year with its shareholders, a special committee of the U.S.-based shared-office operator's board said on Wednesday.
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  • SoftBank Won't Buy $3 Billion in WeWork Stock

    1 month ago - By NY Times

    The move is a blow to shareholders like Adam Neumann, the company's co-founder, and venture capital firms that had hoped to cash out of the troubled office space company.
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  • SoftBank is backing out of its plan to buy $3 billion of WeWork shares, including nearly $1 billion from former CEO Adam Neumann

    SoftBank is backing out of its plan to buy $3 billion of WeWork shares, including nearly $1 billion from former CEO Adam Neumann

    1 month ago - By Business Insider

    SoftBank is abandoning its plan to buy $3 billion worth of WeWork shares from other investors and employees, including some $970 million worth from company cofounder Adam Neumann, according to person with direct knowledge of the matter.
    The move likely means WeWork itself won't be able to tap into a $1.1 billion credit line from SoftBank.
    The share purchase effort and credit line were part of the WeWork rescue package SoftBank announced last fall; WeWork still has access to most of the financing SoftBank promised under that plan.
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