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.
Israeli minister decides to name Western Wall train station after Trump
Palestinians want East Jerusalem to be the capital of a future Palestinian state. Giving the name of Trump to this project will not give it any legitimacy.
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.
Ukraine and pro-Russian separatists swap prisoners, reports say
Germany's foreign ministry said it was a significant step in implementing the ceasefire agreement agreed in the Belarus capital Minsk.
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.
Marijuana use increases among pregnant women in California, study says
Marijuana use among pregnant mothers in California rose from 4.2 percent to 7.1 percent from 2009-2016. Pregnant women are turning more to cannabis for relief of nausea or anxiety, a new study finds.