Wes Edens, one of the owners of Milwaukess Bucks and a founder of Fortress Investment Group, sold his investment company to Softbank Group Corporation., a Japanese company.His full name is Wesley Roberts Edens and he is a sports team owner, private equity investor and businessperson from America. The Bucks are not only sports team that he owns, He owns the team called FlyQuest that participates Legend of Leagues game tournament. He had enough money in 2008 to be the 962nd richest billionaire on the The Forbes Billionaire List.For selling his shares in Fortress, he got about $512. million.
Since February 2017, he got $11.4 million from bonus dividends due to this deal and received an additional $1.4 million in shares that he did not invest in.Fortess, headquartered in New York City, will work inside SoftBank as a fully independent firm. The participate of Fortress Pete Briggs, Randy Nardone, and Edens will continue to work for the company as they have signed five-year contracts.Masaysoki Son is the founder of SoftBank, a firm headquartered in Tokyo. If you were a sharholder of Fortress when it was sold to SoftBank, you would have got $8.08 per share. This would have meant that you would have got a premium of $2.23 per share after Fortress had closed at a price of $5.83.
Edens benefited from this stock sale as his stock increased by $142 million. When the transaction was finally finished, Fortress was worth $7.85 per share. The stockholders of Fotress had approved the selling of the company to SoftBank last year. This takeover of Fortress by SoftBank should actually develop new ways for the company to group as they have become partners with one of the most imaginative and well-connected tech investors. SoftBank had announced just before the takeover that they are going to have a Vision Fund that is valued at about $100 billion. This fund came from tech companies as large as Apple. This fund should change how tech investments are done.