Adam Neumann makes a $500 million bid for WeWork that could hit $900 million if financing and diligence firm up

Adam Neumann makes a $500 million bid for WeWork that could hit $900 million if financing and diligence firm upThe offer comes weeks after it emerged Neumann had renewed interest in taking back the company he was ousted from five years ago.Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weeklyNeumann's financing was not immediately clear, although people familiar with the matter told CNBC that Dan Loeb's Third Point wasin the offer.

"Two weeks ago, a coalition of half a dozen financing partners — whose identities are known to WeWork and its advisors — submitted a potential bid for substantially more" than the initially reported $500 million, a Flow spokesperson said in a statement. Flow did not respond to CNBC's request for comment regarding the $900 million potential bid..

Neumann's bid, which was first reported by the Wall Street Journal, may complexify WeWork's bankruptcy proceedings. The company is seeking to reject numerous leases, meaning it would be able to walk away from longer-term commitments in less lucrative markets. Some of WeWork's lessors have fought those efforts.Reddit shares rise 30% to start week after social media company's IPO

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