WeWork strikes $9.5bn SoftBank deal in latest shake-up

WeWork has agreed a $9.5bn (£7.4bn) funding package with Japan’s SoftBank, which claims it will “double down” on its support of the beleaguered co-working company. SoftBank is providing the We Company, WeWork’s parent group, with $5bn in new debt, as well as “accelerating” an existing funding line of $1.5bn, the companies said. SoftBank will also launch a tender offer for existing shareholders of up to $3bn. The funding comes after WeWork pulled the plug on a planned IPO when investors reportedly balked at the valuation put on the business by investment banks running the deal. While past investments in