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SoftBank Group Corp. has succeeded in its bid to buy a large stake in Uber Technologies Inc.at a steep discount, after the ride-hailing company's investors and employees tendered shares equal to about 20% of the company, people familiar with the matter said on Thursday.
Uber's legal tangles include a lawsuit by Alphabet Inc.'s self-driving vehicle unit Waymo that alleges trade-secrets theft and federal investigations that span possible bribery of foreign officials in Asian countries and the use of software to evade regulators. The deal is good news for SoftBank, which has been trying to get a stake in Uber for years, and good news for the ride-sharing company, which should see an immediate influx of much-needed cash.
The shake-up was supported by Uber's new chief executive Dara Khosrowshahi, who has said he hopes to list Uber's shares publicly in 2019. The deadline for tender offers was 8pm (GMT).
The moves come as Uber concludes a hard year, in which it faced a sexual harassmentscandal, investigations by regulators and a lawsuit over allegedly stolen technology, among other challenges.
Once approved, the transaction will value the company at $48 billion.
Giants Acquire Evan Longoria From Rays in Blockbuster
Evan Longoria has played 200 more games than anyone else who has worn the uniform of Tampa Bay's major league team. The three time All-Star, Longoria finished 2017 with a 3.6 WAR, 20 home runs, 86 runs batted in.
As part of the deal, Uber's board will expand from 11 members to 17 members.
The deal nevertheless sharply discounts Uber's value, which a year ago was estimated at nearly $70 billion. SoftBank is said to be limiting its purchase to 15pc, with other investors to buy the additional shares.
The group will buy most of the shares from early investors in a deal that values Uber at about $48bn (£35.7bn).
Rajeev Misra, chief executive of SoftBank's Vision Fund, a tech investment vehicle, will be nominated to the Uber board, the Journalreported.
The Journal further reports that SoftBank will receive two seats on Uber's board of directors.
In a message on its website, Blink said that "if you own one of our systems, nothing changes for now". Since then, Immedia raised about $20 million in funding , according to documents filed with the U.S.
Wyoming had the largest percentage decline among states, losing almost 5,600 resident or about 1% of the state's population. Many neighboring states, like Indiana, Iowa, Minnesota and MI , all saw moderate population gains during the same period.
The equity markets on Friday despite heavy selling in the last hour of trading, managed to close with solid gains. Prominent gainers include Adani Ports, Bajaj Auto, HDFC Bank, L&T and Tata Steel, rising by up to 2.48 percent.
An upper disturbance brings a slight chance for snow Wednesday evening through Thursday afternoon along with increased cloudiness. According to a National Weather Service wind chill chart , frostbite can occur within 30 minutes at such low temperatures.
Since July 1, when the snow year resets, 16.1 inches of snow has been recorded at Great Falls, which is 1.6 inches below normal. Baltimore and the District of Columbia, including its northern and eastern suburbs.
Later speaking to reporters, Tillerson said that Washington would not accept any preconditions for talks with Pyongyang. These incoherent power games are never going to win the trust of any country, let alone North Korea.
Further, the blaze left the home "uninhabitable", gutting the second floor and causing extensive damage to the first floor. The Pembroke Volunteer Fire Department Auxilliary quickly stepped in and still needs donations for the McGar family.
Two pit bulls, one brown and one white, attacked Lorraine Brock Saylor, 66, and her husband, Johnny Saylor, on Sunday morning. Her husband Johnny Saylor found her in front of their house after he had been attacked by the two dogs.
Liberians Voting in Presidential Runoff Election
The victor will replace Ellen Johnson Sirleaf, Africa's first female president, who is stepping down after two terms in office. The first-round of voting in October brought high numbers of voters, and officials hoped Tuesday's vote will be no different.
Why More Moms-to-Be Are Using Pot During Their Pregnancies
Among ladies who screened positive for cannabis utilize, 55 percent fizzled the lab tests however denied sedate use on the polls. For women in the 18 to 24 age bracket, marijuana usage spiked from 12.5 percent to 21.8 percent in that same period.
Plane coming from Georgia skids off taxiway in Boston
EST, the airport announced they were halting landings and departures were halted due to quick change in temperature. Peters said passengers used stairs to exit the aircraft and were taken by bus to the terminal.
Miss America CEO Sam Haskell Resigns Amid Email Scandal
Randle apologized Saturday to 2013 pageant victor Mallory Hagan , whose weight he and others ridiculed in the emails. The Huffington Post report was based on almost three years of internal emails provided by two sources.
Lady Gaga Las Vegas Residency a Done Deal
Before the residency, Gaga will wrap up her Joanne World Tour, which has dates across Europe in January and February. Rumored for about a year and a half, Gaga is set to announce a series of 36 shows at The Park Theater at Monte Carlo.
A new Harry Potter RPG is coming in 2018
Not only does this game have great graphics and music, the voice-overs are real actors and makes it feel very realistic. The writing is mostly weird and borderline comical, but the machine managed to partly reproduce original writer J.K.
Google Maps Go is the latest lightweight Android app
At the event, Google also announced Google Files Go app and said that a lighter version of Google Maps was also on its way. In separate news regarding another version of Android , Google has come up with Google Maps Go for the Android Go .
Toshiba, Western Digital Settle Chip Unit Dispute (News)
WD came into the joint venture through its acquisition of SanDisk , Toshiba's original partner in the 17-year joint venture. So what happened? Toshiba wanted to sell its chip business to a consortium led by Bain Capital for roughly $18 billion.