Japan’s SoftBank has reportedly been thinking about investing a big chunk of money in Uber. According to a new report, the company is planning to make an offer to purchase Uber shares at a 30 percent discount. Its offer will be based on a valuation of $48 billion which is a 30 percent discount to Uber’s most recent valuation of $68.5 billion.

Uber’s board approved the investment last month. The cash infusion is also going to bring about some corporate governance changes at the company. It would particularly limit the voting powers of some early shareholders, including that of founder and ex-CEO Travis Kalanick.

SoftBank is leading a consortium of investors including the Dragoneer Investment Group. The consortium intends to acquire a stake of at least 14 percent in Uber. The tender offer is reportedly going to be launched in a couple of days and investors will have almost two months to respond to the offer.

Apparently, the offer price is what some of the investors have been expecting. Uber was valued around this level back in 2015 when its shares were priced almost $40 a pop.

SoftBank and its partners retain the right to walk away from the deal if there aren’t enough interested sellers. It’s also expected to make an additional $1 billion investment in Uber at its $68.5 billion valuation.

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