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SoftBank Succeeds in Tender Offer for Large Uber Stake

SoftBank Group Corp. won its bid to buy a major stake in Uber Technologies Inc. at a steep discount to the company’s previous valuation in a deal that gives the world’s biggest tech investor sway over the most valuable U.S. startup.

Uber investors and employees tendered shares equal to about 20% of the company in an offer by a SoftBank-led consortium that values Uber at $ 48 billion—a roughly 30% discount to its most recent valuation of about $ 68 billion, people familiar with the matter said. US Business

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