Deals
WeWork Mulls Governance Changes To Save IPO
- Banks leading sale have concerns about possible low valuation
- Startup’s biggest backer, SoftBank, has urged it to postpone
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WeWork is considering major changes to governance to assuage investor concerns ahead of an initial public offering this month that’s even given pause to some of its own bankers, according to people with knowledge of the situation.
Both of its lead financial advisers -- JPMorgan Chase & Co. and Goldman Sachs Group Inc. -- have concerns about proceeding with an IPO that could value the company as low as $15 billion, the people said, asking not to be identified because the talks are confidential. That’s set off a push to make the public sale more palatable to potential investors with governance reforms.