Employees could choose not to sell before SoftBank's offer expires at noon Pacific Time on Thursday. By itself, SoftBank will likely only acquire enough shares to gain a 15% stake in the company its partners will likely purchase the remaining 5% stake on offer, the Journal reported. If the deal is successful, SoftBank will buy another $1 billion worth of Uber shares at the company's prior $69 billion valuation, the spokesman said.įollowing SoftBank's tender offer, Uber employees and investors offered to sell shares equivalent to about a fifth of the company to the investment firm at its proposed discounted price, according to the Journal. That would value the app-based taxi company at $48 billion, or about 30% less than the $69 billion valuation it had after its last funding round.Īn Uber spokesman confirmed the $48 billion valuation in an emailed statement. SoftBank and its partners offered to buy shares from Uber employees and existing investors at $33 a share, according to Recode. Assuming the deal goes through, SoftBank has agreed to buy another $1 billion worth of Uber shares at the company's previous $69 billion valuation.Ī group of investors led by SoftBank looks set to acquire a 20% stake in Uber at a whopping 30% discount, the Wall Street Journal reported.SoftBank will buy the shares at a 30% discount.Employees and shareholders have offered to sell at least 20% of Uber to SoftBank.
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