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WeWork Shares Rockets 50% As Adam Neumann, Dan Loeb’s Third Point Plot Bid for WeWork

WeWork co-founder teaming up with capital providers on bidCompany currently plans to hand ownership to creditorsAdam Neumann and capital providers including Dan Loeb’s Third Point are exploring an offer to buy WeWork Inc. out of bankruptcy, according to a letter sent to WeWork’s lawyers that was seen by Bloomberg News.Neumann and Third Point have been trying to get information from WeWork necessary to formulate a bid since December, according to the letter. More recently they’ve worked to put to

WeWork Shares Rockets 50% As Adam Neumann, Dan Loeb’s Third Point Plot Bid for WeWork

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More recently they’ve worked to put to","content":"<html><head></head><body><ul style=\"\"><li><p>WeWork co-founder teaming up with capital providers on bid</p></li><li><p>Company currently plans to hand ownership to creditors</p></li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ba484cf136e42b238b7e76bb7ea9d4d1\" title=\"\" tg-width=\"2000\" tg-height=\"1334\"/></p><p>Adam Neumann and capital providers including Dan Loeb’s Third Point are exploring an offer to buy WeWork Inc. out of bankruptcy, according to a letter sent to WeWork’s lawyers that was seen by Bloomberg News.</p><p>WeWork shares rockets 50% in morning trading.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f819276cc60b6885cf9c76f6fc415b9f\" tg-width=\"894\" tg-height=\"841\"/></p><p>Neumann and Third Point have been trying to get information from WeWork necessary to formulate a bid since December, according to the letter. More recently they’ve worked to put together a bankruptcy financing package for the co-working firm.</p><p>The bid would be for the entire company or its assets, according to the letter. It did not include details of how much Neumann, who co-founded WeWork, stood ready to offer for the firm.</p><p>Currently, WeWork’s bankruptcy plan proposes handing ownership to the company’s most senior debt holders, including those holding its credit line, first-lien notes and second-lien notes, according to court papers. 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More recently they’ve worked to put together a bankruptcy financing package for the co-working firm.The bid would be for the entire company or its assets, according to the letter. It did not include details of how much Neumann, who co-founded WeWork, stood ready to offer for the firm.Currently, WeWork’s bankruptcy plan proposes handing ownership to the company’s most senior debt holders, including those holding its credit line, first-lien notes and second-lien notes, according to court papers. 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