Neumann to be paid $200M by SoftBank to step aside - reports

Tuesday, 22. October 2019 02:59

WeWork co-founder and chairman Adam Neumann would receive a $200 million payment by SoftBank Corp. to relinquish his place on the board of directors and his voting shares as part of its proposed takeover deal, according to multiple media reports citing unnamed insiders.

Neumann would also support SoftBank's takeover as part of the agreement. However, there were no further details provided by both companies.

Earlier, CNBC reported that SoftBank is likely to acquire a controlling stake of WeWork.

Related Links: Softbank Group Corporation
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Breaking the News / MS