ADVERTISEMENT

SoftBank Said to Go Ahead With WeWork Stock Tender Offer:Reuters

Tender offer will go ahead based on the previously announced terms of $19.19 per WeWork share as soon as Monday.

SoftBank Said to Go Ahead With WeWork Stock Tender Offer:Reuters
The WeWork logo sits on display on a glass door of the entrance to the WeWork Ocean Gate Minatomirai co-working office space, operated by The We Company, in Yokohama, Japan. (Photographer: Kiyoshi Ota/Bloomberg)

(Bloomberg) -- SoftBank Group will this week begin a previously agreed tender offer for as much as $3 billion of WeWork shares, including up to $970 million owned by WeWork cofounder Adam Neumann, two people familiar with the matter said.

  • Tender offer will go ahead based on the previously announced terms of $19.19 per WeWork share as soon as Monday
  • No talks between SoftBank and WeWork about changing terms of the offer, which may have opened up SoftBank to lawsuits from Neumann and others, after company executives sought a way to reduce the size of the offer, including limiting the amount paid to Neumann, the people said

To view the source of this information click here

To contact the reporter on this story: Andrew Kostic in New York at akostic@bloomberg.net

To contact the editor responsible for this story: Edith Moy at echan10@bloomberg.net

©2019 Bloomberg L.P.