SoftBank Group Corp. has launched a long-awaited $3 billion tender offer for WeWork stock, according to sources.
The offer expires April 1, said one of the sources, who requested anonymity because the matter is private. Representatives for SoftBank and WeWork declined to comment.
WeWork parent We Co. agreed to the tender offer from the Japanese conglomerate last month, one element of a $9.5 billion rescue package for the ailing office-sharing company.