Uber Board Strikes Agreement to Pave the Way for SoftBank Investment [Fortune]
Xerox Holdings Corporation (XRX)
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Source: Fortune
Uber Technologies’ (uber) warring board members have struck a peace deal that allows a multibillion-dollar investment by SoftBank Group to proceed, and which would resolve a legal battle between former Chief Executive Travis Kalanick and a prominent shareholder. Venture capital firm Benchmark, an early investor with a board seat in the ride-services company, and Kalanick have reached an agreement over terms of the SoftBank investment, which could be worth up to $10 billion, according to two people familiar with the matter. The Uber board first agreed more than a month ago to bring in SoftBank as an investor and boardmember, but negotiations have been slowed by ongoing fighting between Benchmark and Kalanick. The agreement struck on Sunday removed the final obstacle to allowing SoftBank to proceed with an offer to buy to stock. Uber confirmed the deal was moving forward. “We’ve entered into an agreement with a consortium led by SoftBank and Dragoneer on a potentia
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