REUTERS: The special committee of WeWork's board is preparing for a fight against Japan's SoftBank Group Corp saying that SoftBank should complete its tender offer promised to the office sharing company's employees and shareholders.
"Not only is SoftBank obligated to consummate the tender offer as detailed by the Master Transaction Agreement, but its excuses for not trying to close are inappropriate and dishonest", the committee said in a statement on Sunday .In response, SoftBank said it maintains the ability to walk away from the tender offer if there is any material liability to WeWork, adding the offer has no impact on SoftBank’s commitment to WeWork or on the financial strength of the business.
"SoftBank has informed stockholders that all of the agreed upon closing conditions must be satisfied before the tender offer can be completed," a SoftBank spokeswoman said.Reuters reported on Tuesday that SoftBank was considering pulling out of the US$3 billion bid to buy additional shares in WeWork, because it feels the office-space sharing firm has not met the conditions for the deal.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
National Solidarity Party to contest 12 seats in the next GE, prepared for 3-cornered fightsSINGAPORE — As the clock ticks down to the next General Election (GE), the National Solidarity Party (NSP) is gunning for the same seats that it contested in the last polls in 2015 — setting the stage for three-cornered fights in those areas. ...and win 0. 😂
Source: TODAYonline - 🏆 1. / 99 Read more »
Doping control facing challenges due to coronavirus, says WADAThe coronavirus pandemic is restricting the fight against anti-doping, the World Anti-Doping Agency (WADA) has said while issuing new guidelines ... Doping control Yeah, I’m sure the world is preoccupied with doping control now...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
IOC asks member countries about coronavirus impactThe International Olympic Committee (IOC), under pressure to postpone this summer's Tokyo Games, is asking National Olympic Committees (NOCs) ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Airbnb board meets to consider raising funds or buying assets[NEW YORK] Airbnb Inc's board met this week to consider a wide range of options in response to the current economic crisis, which is weighing heavily on the business. The potential moves include acquiring distressed assets, raising more funding from private investors and revising plans for a stock market debut scheduled for this year, people familiar with the deliberations said. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Tokyo 2020 Committee says not at stage of deciding Olympics postponement: KyodoA senior official of the Tokyo 2020 Olympics organizing committee said on Saturday it is not at the stage of deciding whether or not to postpone ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Tokyo 2020 Committee says not at stage of deciding Olympics postponement - KyodoA senior official of the Tokyo 2020 Olympics organizing committee said on Saturday it is not at the stage of deciding whether or not to postpone ... So when is the cut off date? 3 months advance? To be fair! It is still too early to make a final decision about the postponement! Wow! Money is more important the lives! Well-done Japan👏🏽👏🏽👏🏽
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »