In 2017, WeWork CEO Adam Neumann told Forbes, "Our valuation and size today are much more based on ... [+] our energy and spirituality than it is on a multiple of revenue." The tender offer was part of a bailout package extended to WeWork in October after the failed IPO. Minutes after the April 1 deadline, SoftBank informed investors it would not move forward with the tender offer. That suit alleges SoftBank executives took steps to sabotage the buyout as soon as the original agreement was signed. Benchmark, which owns 8% of WeWork, could have made more than $350 million in the tender offer, according to a document reviewed by Forbes.

Source: Forbes May 04, 2020 22:04 UTC