Here are the top reads on deals and financial services over the last 24 hours,
WeWork woes, shareholder anger complicate HBC plans to privatize: As Hudson’s Bay Co.'s executive chairman seeks to privatize the retailer, his company is facing more uncertainty due to problems at one of its partners, WeWork, and further criticism from a dissident shareholder. Story (Rachelle Younglai)
WeWork pulls the plug on IPO, plans on ‘revisiting the public equity markets in the future’: WeWork’s parent The We Company said on Monday it will file to withdraw its initial public offering, a week after the SoftBank-backed office-sharing startup ousted founder Adam Neumann as its chief executive officer. Story (Reuters)
SoftBank bet billions on disruptive companies. Many have not paid off: Anyone who has taken an Uber, sent a Slack message or enjoyed a free beer at a WeWork owes a little something to Masayoshi Son. Story (The New York Times)
Forever 21 closing all Canadian stores as it files for bankruptcy: Low-price fashion chain Forever 21, a once-hot destination for teen shoppers, will close all 44 of its Canadian stores and up to 178 locations in the United States while restructuring its global business under bankruptcy protection. Story (The Associated Press)
DEALS NEWS: MERGERS, ACQUISITIONS, IPOs and FINANCINGS
AltaGas sells stake in Central Penn Pipeline for $870-million: AltaGas Ltd. has signed a deal to sell its stake in the Central Penn Pipeline to Meade Pipeline Investment LLC, a subsidiary of NextEra Energy Partners LP, for $870-million. Story (The Canadian Press)
Brookfield buying stake in construction-services firm BrandSafway for $1.3-billion: Investment manager Brookfield Business Partners LP said on Monday it will pay $1.3-billion for a 45-per-cent stake in industrial services company BrandSafway from private equity firm Clayton, Dubilier & Rice (CD&R). Story (Reuters)
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