Adam Neumann submits bid of more than $500 million to buy WeWork

Adam Neumann has made an unsolicited bid of over $500 million to acquire WeWork out of bankruptcy. The bid could potentially go up to $900 million pending due diligence. The financing behind Neumann’s bid is not immediately clear. The offer comes after Neumann expressed interest in regaining control of the company he was ousted from. WeWork filed for bankruptcy in 2023 and has been working on restructuring the business. The bid by Neumann may complicate the bankruptcy proceedings, as WeWork is seeking to reject leases, which has faced opposition from some lessors.