NEW YORK CITY— SoftBank Group Corp., a Japan-based conglomerate, has won board approval of co-working firm WeWork to take over the cash-strapped company. The vote will add to the further influence Softbank has over the company who already owns a third of the co-working firm, according to reporting from the Wall Street Journal.
In the past several weeks, after a flopped initial public offering, WeWork poached both Softbank and JPMorgan Chase & Co., for a lifeline on a deadline that ended yesterday.
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Mariah Brown
Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.
