WeWork Directors Prepare to Take On SoftBank If It Abandons Deal
- Rescue package had been set to close in about two weeks
- Neumann slated to sell $970 million in stock as part of deal
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Two independent WeWork directors are weighing all options including legal action after SoftBank Group Corp. advised the company’s shareholders it may renege on part of its rescue package.
“The Special Committee of the WeWork Board of Directors remains committed to taking all necessary actions to ensure that the tender offer which SoftBank has promised to our employees and shareholders is completed,” a spokeswoman for Benchmark Capital’s Bruce Dunlevie and another independent director, Lew Frankfort, said in a statement.