Sources: SoftBank to take Control of WeWork; In Talks To Acquire U.S. Treasury

First up, from CNBC:

• SoftBank is in very advanced talks to take control of embattled work space company WeWork, according to people familiar with the matter.
• The deal will value WeWork between $7.5 billion to $8 billion on a pre-funding basis and could be announced as soon as Tuesday.
• SoftBank exec Marcelo Claure will be involved in the company’s management, while former CEO Adam Neumann’s stake will fall to low double digits.

SoftBank is in very advanced talks to take control of embattled work space company WeWork, according to people familiar with the matter.

SoftBank, led by Japanese billionaire Masayoshi Son, plans to spend somewhere between $4 billion and $5 billion on new funding and existing shares, sources say.

The deal will value WeWork between $7.5 billion to $8 billion on a pre-funding basis and could be announced as soon as Tuesday. It is SoftBank itself taking control, not the start-up focused Vision Fund. After the move, Softbank would then have as much as 70% or more control of WeWork....MORE

And:
SoftBank In Talks To Acquire U.S. Treasury

In what some on Wall Street are calling the biggest blockbuster deal in the history of the financial sector, SoftBank confirmed today that it was in talks to acquire the U.S. Department of the Treasury.

According to SoftBank spokesperson Jonathan Hestron, the merger between SoftBank and the Treasury Department is "a good fit" because "they're in the business of printing money and so are we."

The SoftBank spokesman said that the merger would create efficiencies for both entities: "We already have so many employees and so much money flowing back and forth, this would just streamline things."...

I apologize, that is fāke™ news, I couldn't help myself.
It's actually a rewriting of a 2009 bit of genius from Andy Borowitz, then scribing for the Huffpo and now at the New Yorker.

I was thinking of the above because of a couple news stories on SoftBank....MORE