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.
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