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October 15, 2019
NEW YORK (AP) — Japanese investment firm Softbank could take control of WeWork as part of a financial package to address the company's cash crunch since its botched effort to sell the public its stock, according to The Wall Street Journal.
The deal would further sideline co-founder Adam Neumann, who resigned as chief executive last month but still wields influence over the company because his shares carry higher voting power. SoftBank, the office-sharing company's biggest investor, is aiming to invest several billion dollars in new equity and debt, The Journal reported, citing people familiar with the matter.
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