Adam Neumann's Bid to Reclaim WeWork Amid Bankruptcy Proceedings
Ousted WeWork CEO Adam Neumann, through his new venture Flow Global Holdings, is attempting to buy back the company, accusing WeWork of rebuffing his efforts to purchase or provide funds. Neumann and Flow are reportedly partnering with capital sources, including Dan Loeb's Third Point hedge fund, to obtain funding for the deal. WeWork, currently in bankruptcy, has stated that it receives expressions of interest from external parties regularly and is focused on addressing its unsustainable rent expenses and restructuring its business. Third Point has confirmed preliminary talks with Neumann and Flow but has not committed to any transaction at this point.