Wework founder Adam Neumann has submitted a $500m (£394m) bid to buy back the troubled co-working business. Neumann submitted the offer but it was not immediately clear how he would finance the acquisition, sources familiar with the matter told the Wall Street Journal. It follows reports last month that lawyers acting for the billionaire sent a letter to the flexible co-working space, informing them he was partnering with New Yorkbased hedge fund Third Point for a potential bid. Neumann and his real estate startup Flow had been trying to get the information necessary to formulate a bid, Bloomberg said.

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