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studioEAST/Getty Images

We've not discussed the Uber-SoftBank transaction lately, so let's do it now. And, in honor of Gordon Hayward's surgery apparently going well, let's treat it like the game it has become:

Possession arrow: SoftBank

  • Everyone currently is waiting on the Japanese giant, which has not yet set a price, nor even communicated how it plans to run the auction process (i.e., fixed tenders, Dutch auction, etc.). It has, however, tried to do price discovery via some one-on-one conversations, and most sources expect formal details within a week.

Over/under: 41.65.

  • That's Uber's most recent 409a valuation, which works out to around a $60 billion valuation based on the current share count. It also seems to be the number below which many shareholders won't even consider a deal (and below which those with pro rata rights — like Benchmark and TPG — could become buyers). That's got to be causing SoftBank some heartburn, given that it originally proposed pricing the deal near a $50 billion valuation.

Halftime quotes

  • "Everyone wants to provide as little transparency as possible." — Uber investor
  • "I know a lot of people don't think it gets done in the end, but they also thought Dara wouldn't get over the governance hurdles. He wants this, and I wouldn't bet against him." — (different) Uber investor

Rules clarification

  • There was a recent FT report about how Benchmark wouldn't raise its ROFR rights in regards to the tender, but sources say the ROFR only relates to shares being (possibly) offered by Travis Kalanick, Ryan Graves and Garrett Camp.

Different sort of court

  • Uber's former chief business officer, Emil Michael, yesterday was dropped as a defendant in a privacy invasion lawsuit filed by a woman who was raped by an Uber driver in India. The company itself remains party to the suit, as do Travis Kalanick and former executive Eric Alexander.z

Go deeper

Perfect storm brewing for extreme politicians

Data: Axios research; Table: Jacque Schrag/Axios

Redistricting and a flood of departing incumbents are paving the way for more extreme candidates in this year's midterm elections.

Driving the news: At least 19 House districts in 12 states are primed to attract such candidates — hard partisans running in strongly partisan districts — according to an Axios analysis of districts as measured by the Cook Political Report's Partisan Voter Index (PVI).

Updated 3 hours ago - Technology

3D printing's next act: big metal objects

Chief Scientist Andy Bayramian makes modifications to the laser system on Seurat's 3D metal printer. Photo courtesy of Seurat Technologies.

A new metal 3D printing technology could revolutionize the way large industrial products like planes and cars are made, reducing the cost and carbon footprint of mass manufacturing.

Why it matters: 3D printing — also called additive manufacturing — has been used since the 1980s to make small plastic parts and prototypes. Metal printing is newer, and the challenge has been figuring out how to make things like large car parts faster and cheaper than traditional methods.

Updated 5 hours ago - Technology

Mayors see cryptocurrency as a way to address income inequality

Illustration: Sarah Grillo/Axios

At the U.S. Conference of Mayors' meeting in D.C. this week, there's buzz around the idea of giving cryptocurrency accounts to low-income people.

Why it matters: Cities have been experimenting with newfangled ways to address income inequality — like guaranteed income programs — and the latest wave of trials could involve paying benefits or dividends in bitcoin, stablecoin or other digital currencies.