SoftBank to Buy Fortress Investment Group for $3.3 BillionBy
Fortress will operate alongside SoftBank Vision Fund
Masayoshi Son aims to be world’s biggest technology investor
SoftBank Group Corp. is buying alternative-asset manager Fortress Investment Group LLC for $3.3 billion to operate alongside the Japanese company’s soon-to-be-established technology investment fund.
Japan’s SoftBank will pay $8.08 a share for New York-based Fortress, a 39 percent premium to the company’s Feb. 13 closing price, according to a statement Tuesday. Fortress co-founders Pete Briger, Wes Edens and Randy Nardone have agreed to continue leading the business, which will remain based in New York and operate independently within SoftBank, according to the statement…
Leave a Reply
You must be logged in to post a comment.