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SoftBank Backs Out of WeWork Tender Offer

By Cory Weinberg
· · Source: Bloomberg

SoftBank confirmed it isn’t going through with the planned purchase of $3 billion of WeWork shares from early investors, including co-founder Adam Neumann, who had planned to unload $970 million to SoftBank. Also missing out is Benchmark Capital. The tender offer was the last stage of SoftBank’s bailout of WeWork that began when the co-working provider’s IPO fell apart last fall. SoftBank had...

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