The tender offer values Uber at $48bn (£36bn), nearly a third lower than its most recent valuation of $69bn. That's a roughly 30 percent discount over Uber's most recent valuation of close to $70 billion. SoftBank and the rest of consortium, which includes Dragoneer Investment Group, will own about 17.5%, including a secondary share purchase from earlier investors and employees, as well as $1.25bn of fresh funding. He continued: "We have tremendous confidence in Uber's leadership and employees and are excited to support Uber as it continues to reinvent how people and goods are transported around the world".
Also, SoftBank holds investments in multiple Uber competitors, so it will be interesting to see how this all shakes out. Dara Khosrowshahi, the former CEO of Expedia, took Kalanick's place in August after a lengthy search. The Japanese telecommunications giant acquired about 15% of the company in the deal, which valued the the company at $48 billion and included an additional $1.25 billion to buy shares directly from the company.
Chiefs will start Patrick Mahomes at QB Sunday
In starting Mahomes against Denver this weekend, the Chiefs will be able to get a glimpse into their future at quarterback. But if Mahomes play well, it could make the Chiefs a little more comfortable in moving on from Smith this summer.
Earlier on Thursday, SoftBank made a so-called tender offer to Uber investors and shareholders, proposing to pay a reported $33 per share for their stock in the company. The company is also planning an initial public offering in 2019.
We are appreciative of the support from Uber's shareholders in the successful tender offer and look forward to closing the overall investment in January.
Rajeev Misra, the chief executive of SoftBank's Vision Fund, a $98bn tech investment vehicle, will join the Uber board, along with a second representative from SoftBank.
Lot draw to determine House control will be livestreamed
If Simonds were declared the victor in the 94th District in Newport News, it would split control of the legislature 50-50. This was substantial because with her win the Virginia House of Delegates would be at a 50/50 political party split.
Uber Technologies Inc said in September it was shutting down the auto-leasing business, which had heavy losses.
Uber's board of directors, which had devolved into a power struggle between Uber's former CEO, Travis Kalanick, and its largest investor, Benchmark, will now likely be calmer.
Cuomo order allows for early tax payments
Como has urged residents to check with local government and school district to check their eligibility to make an early payment. Bills have been printed and given to town tax collectors , but will likely not arrive in mailboxes before the end of the week.