The Japanese conglomerate set a threshold for its bid at 14 percent and while it's now able to purchase almost 50 percent more than it originally planned, it's reportedly limiting its offer to a 15 percent stake. The closing of the deal will also mark the end of the company's supervoting share structure, moving the company to a "one share, one vote" system that further weakens the influence of early executives and shareholders.
SoftBank's bid to purchase a sizable stake in ride-hailing titan Uber has succeeded.
The deal nevertheless sharply discounts Uber's value, which a year ago was estimated at nearly $70 billion. Uber is losing more than $1bn each quarter and a new cash infusion is critical.
The Wall Street Journal first reported on Thursday that the tender deal would be successful, citing unnamed sources. Most notably, the board of directors will be expanded from 11 seats to 17, up three of which are set to go to the Japanese telecommunications giant. The price is less important than locking in the governance changes and securing the support of the world's most powerful technology investor,"said Erik Gordon an entrepreneurship expert at the University of Michigan's Ross School of Business".
"If the stockholders hadn't taken the price, the value of the company would have been battered by a return to stockholder infighting and the possibility of Kalanick's return".
"We look forward to working with the purchasers to close the overall transaction, which we expect to support our technology investments, fuel our growth, and strengthen our corporate governance", said in Uber spokesperson in a statement. In an earlier reportin August, the paper said Uber was losing roughly $9,000 a vehicle, 18 times more than previously believed.
Softbank has made a series of high-profile tech investments and shown an appetite for investments in ride-sharing, backing China's Didi Chuxing and Southeast Asian taxi-hailing app Grab, among other companies. The company still faces numerous legal challenges, including a massive trade secrets lawsuit with Alphabet's self-driving auto unit Waymo and multiple government investigations into potentially illegal business practices.
Foster was booked by the Pike County Sheriff's Office on one charge of murder and four charges of attempted murder. Police said the shootings appeared to be connected to Foster's relationship with the woman who was shot.
All North Korean nationals working overseas made to return home within 24 months, restricting a vital source of foreign currency. Cell is the term used to describe the smallest unit of North Korea's ruling party consisting of five to 30 people.
Across northern Maine, New Hampshire and Vermont, mid-morning temperatures were in the negatives or single digits. It wasn't that the VA's heating system wasn't working, but it couldn't keep up with the cold conditions.
A foreign minister statement said Kim Jong-un's deterrence was the only way to deal with tensions with the US. The North's old allies China and Russian Federation both supported the latest United Nations sanctions.
It is sad that the Muslim Personal Law Board continues its negative stand on the issue of triple talaq . Now it is up to the court to direct the police as to whether they should investigate the matter.
The Thomas Fire in Ventura and Santa Barbara counties is now the largest wildfire ever recorded in California . Claus on Christmas Eve morning, with the Ventura County Fire Department sharing a group picture.
In his own statement after the results were certified, Moore repeated his charge that the election was "fraudulent". The number has been raised to 118 voter fraud complaints, with 85 so far having been adjudicated, Merrill said.
Israel captured east Jerusalem, which includes the Old City, in 1967, and annexed it in a move not recognised internationally. That's the proposal Israel's transport minister recently pushed forward, according to an Associated Press report.
WhatsApp Ends Support For BB10 And Windows Phone This Month
Ending support for Blackberry and Windows Phone has seen no further extensions and will come into place on the mentioned date. What this means is that WhatsApp will no longer actively develop its app for the aforementioned operating systems.
Kiev, pro-Russian separatists exchange hostages
According to the terms of the deal, Kiev was meant to hand over 306 prisoners to the rebels and receive 74 prisoners in return. Ukrainian authorities and separatist rebels have agreed on a major prisoner exchange.
Marijuana Use Among Pregnant Women Rises, Study Says
Robyn Horsager-Boehrer, professor and chief of obstetrics and gynecology at the University of Texas Southwestern's William P. KABC reported that the study suggested some women use the drug to alleviate morning sickness and anxiety.
Democrat in Virginia House race asks to delay breaking tie
Initially Yancey won by ten votes. "At the end of the day this is really about the integrity of elections in Virginia". The ballot in question had bubbles filled in for both Simonds and Yancey, but the bubble for Simonds was crossed out.
Cardi B admits Offset cheated on her recently
A rep for Cardi B told TMZ that the video was just a joke and that Cardi B and Offset weren't actually having sex. As fans may remember, Offset's iCloud account got hacked and the hacker leaked a video of his with another woman.
5 people dead after small plane crash in Florida
Victoria was a school teacher in Baltimore, Maryland, and Peter was a law student at the University of Maryland, Judd said. Sheriff Judd was friends with Shannon and said, " John Shannon has always been a great advocate, a great attorney".
Jennifer Lawrence buys Kris Jenner a Porsche for Christmas
The actor recently admitted she is a huge fan of the show, " Keeping Up With The Kardashians ", which also features Jenner. So when Jenner told the actress she wanted a Porsche for Christmas J-Law delivered, and the outcome is glorious.