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

SOFTBANK GROUP CORP.

(9984)
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SoftBank : WeWork co-founder Neumann nears settlement with SoftBank - source

02/22/2021 | 07:06pm EST
The logos of SoftBank and WeWork are displayed in front of SoftBank's new headquarters building in Tokyo

(Reuters) - WeWork co-founder and former Chief Executive Adam Neumann is nearing a settlement with SoftBank Group Corp that could include a nearly $500 million cut in his payout from the office space-sharing company's new owner, according to a person familiar with the matter.

The settlement would put to rest a prolonged legal battle between Neumann and Softbank, which dates back to 2019 when WeWork's IPO plans fell apart.

It would also clear the decks for WeWork as it pursues a talks to go public through a merger with a special purpose acquisition company (SPAC).

SoftBank had agreed in October 2019 to purchase around $3 billion in WeWork stock belonging to Neumann as well current and former WeWork employees. SoftBank later contested its obligation to purchase the shares.

Under the new proposed terms, SoftBank would purchase around half the shares it had originally agreed to buy, the source said, requesting anonymity as the matter is private.

SoftBank declined to comment. WeWork was not immediately available for comment. The talks were reported earlier by the Wall Street Journal.

SoftBank, which poured more than $13.5 billion into WeWork, was pulled into a legal dispute with directors at WeWork after backing out of a $3 billion tender offer agreed when it bailed out the office-sharing firm following a flopped IPO attempt.

(Reporting by Nivedita Balu in Bengaluru and Joshua Franklin in Miami; editing by Jane Wardell)


© Reuters 2021
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Financials
Sales 2021 5 738 B 54 187 M 54 187 M
Net income 2021 2 108 B 19 902 M 19 902 M
Net Debt 2021 10 250 B 96 790 M 96 790 M
P/E ratio 2021 8,09x
Yield 2021 0,42%
Capitalization 17 759 B 168 B 168 B
EV / Sales 2021 4,88x
EV / Sales 2022 4,75x
Nbr of Employees 80 909
Free-Float 63,0%
Chart SOFTBANK GROUP CORP.
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SoftBank Group Corp. Technical Analysis Chart | MarketScreener
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Technical analysis trends SOFTBANK GROUP CORP.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 15
Average target price 9 852,08 JPY
Last Close Price 9 982,00 JPY
Spread / Highest target 18,5%
Spread / Average Target -1,30%
Spread / Lowest Target -30,9%
EPS Revisions
Managers and Directors
NameTitle
Masayoshi Son Chairman & Chief Executive Officer
Yoshimitsu Goto Chief Financial Officer & Senior Managing Director
Norikazu Oba Manager-Finance & Planning
Raul Marcelo Claure Chief Operating Officer & Vice President
Tim Mackey Chief Legal & Group Compliance Officer
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