Business & Finance

Reuters first to report Adam Neumann’s final WeWork act – helping SoftBank’s SPAC deal

Reuters was first to report how WeWork co-founder Adam Neumann, who was ousted from the company in 2019, helped set the spark for SoftBank Group Corp’s $9 billion deal to take WeWork public. Neumann met in November with the head of the special purpose acquisition company (SPAC) that would go on to clinch a deal with WeWork. Neumann had been locked in a fierce legal battle at the time with SoftBank over a $3 billion deal for a portion of his and other investors’ stake in the office space-sharing company. The ensuing deal, announced last week, cushions some of the blow SoftBank has suffered with its investment in WeWork. 

Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Equities
Regions: North America
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
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