WeWork board accepts SoftBank rescue deal - source

(Reuters) - WeWork's board has accepted a takeover plan proposed by SoftBank Group, handing control of the office-sharing startup to the Japanese firm, according to a source directly familiar with the matter. WeWork owner The We Company's board was evaluating SoftBank's offer against an alternative financing proposal from JPMorgan Chase & Co , but decided to go with SoftBank, even though the bank put together a $5-billion (£3.9 billion) debt financing package. This marks a stunning reversal..