WeWork Accepts SoftBank Takeover Offer

WeWork, the troubled shared office space company, has agreed to be taken over by its largest outside investor, SoftBank, the Japanese technology giant, according to people with knowledge of the matter.

The deal ends weeks of uncertainty at WeWork, a once fast-growing business that scrapped an initial public offering last month after Wall Street investors balked at its huge losses and unusual corporate governance structure. SoftBank, which had invested about $10.5 billion in WeWork, will now have to pour billions more into the company, cut costs and stabilize the business.

This is a developing story and will be updated.

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