Anonymous ID: 56ee8e April 2, 2020, 9:44 a.m. No.8662097   ๐Ÿ—„๏ธ.is ๐Ÿ”—kun   >>2164 >>2380 >>2493

WeWork troubles deepen as SoftBank pulls its $3 billion tender offer

 

Points

 

SoftBank said it has terminated a $3 billion tender offer for additional WeWork shares agreed last year with shareholders.

The move drew threats of legal action and plunging the floundering office space company further into crisis.

Softbank said in a statement that given its duty to its shareholders it could no longer proceed with the deal, citing criminal and civil probes into the startup, WeWorkโ€™s failure to restructure a joint venture in China and the impact of the coronavirus pandemic.

 

https://www.cnbc.com/2020/04/02/softbank-terminates-3-billion-wework-tender-offer.html