Adam Neumann is trying to buy WeWork out of bankruptcy, claiming he has Wall Street backing to take control of the company he was ousted from after racking up billions of dollars of losses.
Lawyers acting for Neumann sent a letter to WeWork on Monday saying he was “partnering” with Daniel Loeb’s hedge fund Third Point and had been trying to engage with the company since December to no avail.
However, Third Point told the Financial Times it had held “only preliminary conversations with Flow [Neumann’s property company] and Adam Neumann about their ideas for WeWork, and has not made a commitment to participate in any transaction”.
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