Home Daily Blitz Uber-SoftBank Deal Is Said to Be Close to Approval With Signing Imminent
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Uber-SoftBank Deal Is Said to Be Close to Approval With Signing Imminent

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NEW YORK, NY - JUNE 14: An Uber SUV waits for a client in Manhattan a day after it was announced that Uber co-founder Travis Kalanick will take a leave of absence as chief executive on June 14, 2017 in New York City. The move came after former attorney general Eric H. Holder Jr. and his law firm, Covington & Burling, released 13 pages of recommendations compiled as part of an investigation of sexual harassment at the ride-hailing car service. (Photo by Spencer Platt/Getty Images)

The following is an excerpt from Eric Newcomer | November 12, 2017 | Bloomberg.com |

A multibillion-dollar deal that will see SoftBank Group Corp. take a big stake in Uber Technologies Inc. is close to being approved by the main players, people familiar with the matter said.

The transaction may be worth up to $10 billion and includes Uber governance reforms. The terms have been negotiated for weeks and are expected to be signed on Sunday, the people said. They asked not to be identified talking about private deliberations.

Uber’s board was briefed on the terms of the deal Saturday and lawyers have been working to complete the language of the agreement, the people said. Signatures were being collected on Sunday, the people said. Uber declined to comment.

For more visit: Bloomberg.com

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