Mark Indelicato Discusses Former WeWork CEO’s Attempts to Win Back Company
February 8, 2024
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.”
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