WeWork committee pushes back against SoftBank, asserts right to represent shareholders

WeWork committee pushes back against SoftBank, asserts right to represent shareholders

WeWork at Shoreditch, London. Photo by Uygar Kilic on Unsplash

A special committee of WeWork board members on Monday rejected an assertion by SoftBank Group Corp that it does not have authority to represent the interests of minority shareholders of the office-sharing startup.

The committee had negotiated a $3 billion tender offer which was part of a $9.6 billion rescue financing package SoftBank had agreed with WeWork in October that gave it control of the company.

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