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WeWork sues SoftBank after $3-bn tender offer falls through
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WeWork's owner, The We Company, has sued SoftBank Group, challenging its largest shareholder's decision to terminate a $3 billion tender offer for shares in the office-space sharing firm.
An independent two-member special committee of The We Company's board filed the lawsuit, saying that SoftBank had breached its contractual obligations by abandoning the tender offer. "The Special Committee regrets the fact that SoftBank continues to put its own interests ahead of those of WeWork’s minority stockholders," it said in the lawsuit filed in the Chancery Court of Delaware.
Last week, SoftBank said it terminated the proposed tender offer for additional WeWork shares, citing criminal and civil probes into the startup, its failure to restructure a
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