SoftBank Group drops $3b WeWork tender offer

Japanese global tech investor SoftBank Group said on yesterday it had terminated a tender offer worth up to $3 billion to acquire shares in US firm WeWork.

The company said "certain conditions to the tender offer were not satisfied", but added the decision "will have no impact on WeWork's operations, customers, five-year

business and strategic plan, or the vast majority of WeWork's current employees".

The announcement came after reports that a nagging rift has remained between SoftBank Group and WeWork's board members over the rescue package for the US-based office-sharing start-up.

 

SoftBank Group drops $3b WeWork tender offer

Japanese global tech investor SoftBank Group said on yesterday it had terminated a tender offer worth up to $3 billion to acquire shares in US firm WeWork. The company said certain conditions to the tender offer were not satisfied, but added the decision will have no impact on WeWorks operations, customers, five-year business and strategic plan, or the vast majority of WeWorks current employees. The announcement came after reports that a nagging rift has remained between SoftBank Group and WeWorks board members over the rescue package for the US-based office-sharing start-up.