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SoftBank Group Corp. is looking to take a controlling stake in WeWork, according to a person familiar with the matter. The deal is said to value the company at about $8 billion or less, said the person, who asked not to be identified discussing private deliberations.

The plan includes an offer to buy as much as $3 billion of stock from existing shareholders, the person said. The package is also expected to include $5 billion in debt financing.

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