Adam Neumann Buying Back WeWork?
Patrick Boyle On Finance
English - February 10, 2024 20:00 - 15 minutes - 10.5 MB - ★★★★★ - 120 ratingsInvesting Business Education finance trading hedge funds investment stock market history personal finance quantitative finance investing business Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Adam Neumann has been trying to buy WeWork - the company he cofounded out of bankruptcy — allegedly with the help of the hedge fund manager Dan Loeb of Third Point.
Neumann’s new real estate company "Flow" has sent a letter to WeWork requesting that they consider its takeover approach. Flow has already raised $350 million from the venture capital firm Andreessen Horowitz, disclosed in the letter that Loeb’s Third Point would help finance a transaction.
The Financial Times contacted Third Point to verify their involvement in the deal and were told that the fund had only held “preliminary conversations with Flow and Adam Neumann about his ideas for WeWork.” They went on to say that they have made “no commitment to participate in any transaction.”
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