WeWork sues SoftBank for dropping $3 billion tender offer uk.reuters.com

REUTERS/Kate MunschThe tender offer was part of a $9.6 billion rescue financing package that SoftBank agreed with WeWork in October that gave it control of the company.
An independent two-member special committee of WeWork filed the lawsuit, calling SoftBank’s decision to terminate the tender offer wrongful.
CASH CRUNCHEven without the tender offer, SoftBank and its $100 billion Vision Fund currently own 52.3% of WeWork.
Some $450 million of the tender offer was allotted to current and former employees.
In two previous tender offers in 2017 and 2019, WeWork shareholders and employees had received a total of $2.3 billion from SoftBank.