2019-10-22 — nytimes.com
The board of WeWork, the cash-starved purveyor of shared office space, could choose between two competing financial rescue packages as early as Tuesday, according to people with knowledge of the matter. One is being offered by SoftBank, and another from a financial consortium led by JPMorgan Chase.
SoftBank, a Japanese technology giant that is already the largest outside shareholder in WeWork, is offering to take a controlling stake by accelerating a $1.5 billion investment it had planned to make next year and by buying up to $3 billion in shares held by other investors, two people said. SoftBank is also offering to put together loans totaling $5 billion from a consortium of financial institutions, including itself.
JPMorgan's proposal consists of several parts, including new bonds, some of which would carry high interest rates, according to a person with knowledge of its plans. That package could add up to roughly $5 billion.
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