WeWork's New Panel Wants To End Failed Softbank Deal Fight
Law360 (July 30, 2020, 6:20 PM EDT) -- WeWork's corporate parent moved to ignore its original special committee and instead go with a new, replacement committee's recommendation to pull the plug Thursday on a Delaware Chancery Court suit to enforce SoftBank Group Corp.'s. scuttled offer to pay $3 billion for a larger controlling stake.
The action followed months of battling between We Co.'s current, Softbank-controlled board and a legacy special committee appointed to independently evaluate the Japan-based controller's tender offer late last year, before SoftBank's April announcement that it was terminating the deal.
After the committee and WeWork's former CEO sued for damages or enforcement of the tender offer in Chancery...
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