Deals
SoftBank Slides to 10-Month Low After Unveiling WeWork Bailout
- Shares mark lowest since Jan. 30 after a WeWork deal unveiled
- Billionaire Masayoshi Son spent a day on the links with Woods
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SoftBank Group Corp. slid to its lowest since January after unveiling a $9.5 billion bailout for WeWork, as investors pondered the upshot of acquiring 80% of the debt-riddled American shared-office startup.
The stock slipped as much as 3.2% to 4,057 yen in Thursday morning trade, extending a 2.5% decline during the previous session. On Wednesday, WeWork announced it had secured a rescue package from SoftBank, capping one of the more dramatic business debacles in recent memory.