SoftBank Shares Drop as Group Weighs $18 Billion Bid for Allied Universal

SoftBank's U.S.-traded shares fell by as much as 10% on Friday after Bloomberg reported the conglomerate is considering buying Allied Universal, a private security services company.

The deal could value Allied Universal at up to about $18 billion in equity, or roughly $30 billion including about $12 billion of debt. Talks are described as early, and no agreement has been announced.

The report landed on a day when investors were already pulling back from risk, and it highlights concerns about how large acquisitions would be financed in a high-rate environment.