Thompson Coburn’s Mark Indelicato, managing partner of the firm’s New York office, was quoted in a MarketWatch article on former WeWork CEO Adam Neumann’s efforts to buy back the company with the help of Daniel Loeb’s hedge fund Third Point.
Third Point stated that the hedge fund has not made a commitment to participate in the transaction yet. “I think they are taking a wait-and-see attitude,” Mark said. “They are waiting to see what the reaction will be.” He described Neumann’s effort as “an opportunistic buy” and also highlighted the challenges in WeWork’s path. “How much debt is it really going to be able to carry coming out of the gate?” he said. “I am not sure that the commercial real-estate market has fully reset yet and what the need for WeWork is going to be going forward.”
Click here to read the full article.
Although we would like to hear from you, we cannot represent you until we know that doing so will not create a conflict of interest. Also, we cannot treat unsolicited information as confidential. Accordingly, please do not send us any information about any matter that may involve you until you receive a written statement from us that we represent you (an ‘engagement letter’).
By clicking the ‘ACCEPT’ button, you agree that we may review any information you transmit to us. You recognize that our review of your information, even if you submitted it in a good faith effort to retain us, and, further, even if you consider it confidential, does not preclude us from representing another client directly adverse to you, even in a matter where that information could and will be used against you. Please click the ‘ACCEPT’ button if you understand and accept the foregoing statement and wish to proceed.