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MarketScreener Homepage  >  Equities  >  Tokyo  >  SoftBank Group Corp.    9984   JP3436100006

SOFTBANK GROUP CORP.

(9984)
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SoftBank : WeWork Board to Weigh Rescue-Funding Bids From SoftBank, JPMorgan

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10/21/2019 | 04:23pm EST

By Liz Hoffman and Maureen Farrell

WeWork's board is expected to meet tomorrow to weigh emergency-financing options including a takeover by SoftBank Group Corp. that would slash the co-working company's valuation to about $8 billion and alleviate a looming cash crunch.

Ahead of a deadline tonight to submit bids, SoftBank has offered to lend $5 billion to the struggling startup and accelerate a $1.5 billion equity investment that had been scheduled for next year, people familiar with the matter said. SoftBank also would offer to buy more than $1 billion of stock from existing investors and employees, some of the people said.

JPMorgan Chase & Co. is expected to field a competing loan package that would bring together a group of outside investors. There is no guarantee it will be able to, and the terms it has outlined to potential investors so far are more expensive and complicated than what SoftBank is offering.

SoftBank's offer would value WeWork at less than half of what the company had been looking to fetch in a now-scrapped initial public offering. It is even further from the $47 billion WeWork at which was valued in a funding from SoftBank in January.

SoftBank's offer, first reported earlier this month by The Wall Street Journal, would further sideline Adam Neumann, WeWork's flamboyant co-founder who was recently forced out as chief executive. SoftBank would likely buy some shares from Mr. Neumann and would seek to further diminish his voting control over the company he co-founded in 2010, some of the people said.

A top SoftBank executive, Marcelo Claure, would succeed Mr. Neumann as board chairman and would head a search for outside leadership, including potentially a new CEO to succeed the two men who have been sharing the job since Mr. Neumann's departure.

--Eliot Brown contributed to this article.

Stocks mentioned in the article
ChangeLast1st jan.
JPMORGAN CHASE & CO. 0.84% 130.62 Delayed Quote.32.69%
SOFTBANK GROUP CORP. 1.64% 4330 End-of-day quote.-38.19%
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Financials (JPY)
Sales 2020 9 700 B
EBIT 2020 1 228 B
Net income 2020 959 B
Debt 2020 12 873 B
Yield 2020 0,89%
P/E ratio 2020 7,34x
P/E ratio 2021 14,5x
EV / Sales2020 2,25x
EV / Sales2021 2,25x
Capitalization 8 968 B
Technical analysis trends SOFTBANK GROUP CORP.
Short TermMid-TermLong Term
TrendsBullishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 6 785,80  JPY
Last Close Price 4 330,00  JPY
Spread / Highest target 145%
Spread / Average Target 56,7%
Spread / Lowest Target 4,62%
EPS Revisions
Managers
NameTitle
Masayoshi Son Chairman & Chief Executive Officer
Raul Marcelo Claure Chief Operating Officer, Director & Vice President
Yoshimitsu Goto CFO & Senior Managing Executive Officer
Tadashi Yanai Independent Outside Director
Ken Miyauchi Director
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