WeWork sues Softbank after pulling out from $3billion tender offer.

SoftBank said it will not be moving forward with the deal due to regulatory issues and unmet requirements.


Alfred Lee

8 Apr, 2020

WeWork sues Softbank after pulling out from $3billion tender offer. | BEAMSTART News

- From our Sponsors -

WeWork is suing SoftBank after the investment giant pulled out from investing another $3 billion into the struggling startup.

SoftBank’s initial offer was to buy shares of WeWork as part of a $9.5 billion bailout ($1.5 billion in exchange for shares and $5 billion debt financing) package after the company failed to go public.

However last week, SoftBank said it will not be moving forward with the deal due to regulatory issues and unmet requirements.

WeWork former CEO, Adam Neumann.

The lawsuit, which was filed yesterday, mentions that SoftBank had breached its obligations to deliver on the deal, and now wants the Japanese conglomerate to complete the tender offer or pay compensatory damages.

“The special committee regrets the fact that SoftBank continues to put its own interests ahead of those of WeWork’s minority stockholders,” WeWork’s camp said. “Instead of abiding by its contractual obligations, SoftBank, under increasing pressure from activist investors, has engaged in a purposeful campaign to avoid completion of the tender offer.”

- From our Sponsors -

Latest Jobs

Customer Success Manager

Tank Payments

Texas,

Full Time

USD 75000 — USD 110000 yearly

Software Engineer (Data)

Numeral

Full Time

USD 160000 — USD 210000 yearly

Product Engineer - App ops

Y Combinator

California,

Full Time

USD 180000 — USD 270000 yearly

Business Development (Startups & VCs)

Tandem

California,

Full Time

USD 80000 — USD 120000 yearly

Founding Account Executive

Code Four

California,

Full Time

USD 130000 — USD 150000 yearly

Full Stack Engineer (Typescript, React, Gen AI)

Sei

Tamil Nadu,

Full Time

USD 1000000 — USD 3200000 yearly

Marketing Manager

CozmoX AI

California,

Full Time

USD 50000 — USD 170000 yearly

Field Marketing Lead

Broccoli AI

California,

Full Time

USD 100000 — USD 140000 yearly

Technical Writer / Editor

Firecrawl

Contract

USD 50000 — USD 70000 yearly

BEAMSTART is a hub for everything Startups, Entrepreneurship, and Innovation. Connect with a global community of people, and stay updated with the latest startup jobs, news, and discussions.

 
© 2016 - 2025 BEAMSTART. All Rights Reserved (Legal).