WeWork nearing deal for ‘major’ restructuring, Bloomberg says

WeWork (WE) is nearing a deal for a "major" financial restructuring in which key investor SoftBank Group (SFTBY) will convert about $1B of debt into equity, people familiar with the matter told Bloomberg’s Sridhar Natarajan and Gillian Tan. Though a WeWork representative didn’t immediately respond to a request for comment and a SoftBank spokesman declined to comment, the sources said a deal could be announced as soon as Thursday, the report noted.