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SoftBank's Uber deal takes major step forward

Photo: Jaap Arriens / Getty Images

Uber's warring factions have agreed to a truce that will allow Japan's SoftBank Group to launch a tender offer for at least a 14% stake in the ride-hail company, per multiple sources.

Bottom line: This is major development, but doesn't mean the deal will actually be consummated. Instead, SoftBank now will propose a price at which it would buy stock from eligible Uber shareholders, who would then have 30 days to tender.