SoftBank Group Corp will this week launch a previously agreed tender of...
) will this week launch a previously agreed tender offer for as much as $3 billion of WeWork shares, including up to $970 million owned by the office sharing company’s cofounder Adam Neumann, two people familiar with the matter said.
It will go ahead based on the previously announced terms at $19.19 a WeWork share as soon as Monday, these people said. It lays the way for SoftBank to control about 80 percent of WeWork and is part of an agreement with Neumann that will see him give up voting control of the company and leave the board.
After being valued at $47 billion in January and planning an initial public offering , WeWork quickly became a company that was facing a cash crunch and fighting for survival. It shelved its plans for the IPO on Sept. 30 because investors were wary of its growing losses, its business model and its corporate governance. Neumann had resigned as CEO the previous week.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
WeWork Turns to Maurice Lévy for Help Rebuilding BrandWeWork has tapped well-known ad man Maurice Lévy to be interim chief marketing officer, as the office-space startup faces an uphill battle to repair its image after its spectacular fall from grace.
Consulte Mais informação »
WeWork names new executives, path to profitability by 2023: reportWeWork named four men to executive roles on Friday and outlined a six-point path...
Consulte Mais informação »
The WeWork problem people aren't talking about that is spreading across the co-working worldThe number of co-working spaces worldwide is expected to hit 25,968 by 2022, an increase of 42% from 2019, says CoworkingResources. Yet there's been a huge shift as to whom these spaces are actually serving. Hint: It's not the gig economy — and that's a huge mistake, as 40% of American workers are expected to be independent contractors by 2020.
Consulte Mais informação »
Adam Neumann's $1.7 billion golden parachute could be slashed as SoftBank looks to trim its WeWork rescue deal | Markets InsiderAdam Neumann's $1.7 billion golden parachute could be slashed as SoftBank bosses seek to trim the $9.5 billion rescue deal they struck with WeWo...
Consulte Mais informação »
Cramer's week ahead: A short week on Wall Street stuffed with earnings reports'Will the president slaughter a turkey this year, or slaughter the market? I bet he goes for the former,' 'Mad Money's' Jim Cramer says.
Consulte Mais informação »