SoftBank bought Fortress Investment Group for 3 billion and 300 million US Dollars. The three principals of the fortress were withheld even after the acquisition. These principals include Randal Nardone, Pete Briger and Wes Edens. The acquisition of Fortress Investment Group was meant to expand and increase the potential of SoftBank against 100 billion US Dollar vision plot which is not yet launched as per Masayoshi Son who is the founder of SoftBank. Randal Nardone has great confidence that fortress will grow and develop under the governance of Son and that he will jeep upgrading the prospects of this company all through its operations.
SoftBank is responsible in settlement of all subsidiaries in conjunction with the remaining fortress shares after the closure of the deal. The closing of the agreement was made after fortress shareholders accredited all transactions. This accreditation occurred on 12th July 2017, and the approval of all the regulatory receipts also took place on this particular date. The entire Fortress Investment Group class A shares were converted into a right to obtain 8.08 US Dollars for every share after the acquisition. This was set to happen with all the proceedings from merger being distributed as per the payment procedures for the payments set in the Definitive Proxy of the fortress group in 7th June 2017, and the acquisition agreement was also incorporated.
SoftBank did not manage to retain its hands-off for no good reason. The company was forced to agree on the allowance of Fortress Investment Group in the management of approximately 40 billion US Dollars assets to overcome the regulatory challenges. The fact is that SoftBank encountered tremendous evaluation from the Committee on Foreign Investment in the United States of America. This committee is set to oversee the international deals and transactions like the ones being thrived by Softbank in the interest of the national security. This acquisition was further held up due to many other operations that SoftBank engaged itself in that particular time inclusive of the acquisition of Boston Dynamics which was under the ownership of Alphabet, the Google’s parent company and the transformer of 25 percent in the Army holding of the United Kingdom into its investment fund known as the Vision Fund.
Fortress Investment is a great firm that has great chances of growing and expanding even further. SoftBank made the best decision by purchasing such a stable and potential organization.