Recs

0

Major CommonWealth REIT Shareholders Call for Board Replacement

By | More Articles
March 13, 2013 | Comments (0)

Don't let it get away!

Keep track of the stocks that matter to you.

Help yourself with the Fool's FREE and easy new watchlist service today.

Corvex Management and Related Fund Management, major shareholders of CommonWealth REIT (NYSE: CWH  ) , have filed a preliminary consent solicitation statement with the SEC to seek the removal of CommonWealth REIT's entire board of trustees, the companies announced today.

Together, Corvex and Related own 9.8% of CommonWealth REIT's outstanding common stock, and they have been critics of CommonWealth's announcement in February of a new stock offering to raise money to pay off debt. The investors were concerned that such an offering would dilute the value of their shares. CommonWealth went ahead with the stock offering anyway.

Corvex and Related said today they wish to replace the current board with one elected soon after in a special shareholder meeting.

"We bellieve that the initiatives launched today present a clear and attractive path for shareholders of CWH to remove the current board of trustees and bring change to CWH," said Keith Meister of Corvex and Jeff T. Blau of Related in the companies' announcement.

CommonWealth countered the Corvex and Related announcement with one of its own, calling on its shareholders "to take no action at this time ... [as] the CWH Board of Trustees will carefully consider and evaluate the Corvex/Related filings and will communicate with CWH's shareholders in due course."

Jeff Fischer and team have demystified options. And they can rack up income like $1,030... $2,626... and $3,228 on a schedule you can set your watch by!
That's why we're glad to announce every single one of their closely guarded strategies is available to YOU during May and June – 100% FREE, no strings attached! Just enter your email address in the box below...

Fool contributor Dan Radovsky and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

DocumentId: 2311268, ~/Articles/ArticleHandler.aspx, 5/24/2013 7:14:09 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated Moments ago Sponsored by:
DOW 15,303.10 8.60 0.06%
S&P 500 1,649.60 -0.91 -0.06%
NASD 3,459.14 -0.28 -0.01%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

5/24/2013 4:03 PM
CWH $20.49 Down -0.13 -0.63%
CommonWealth Reit CAPS Rating: ***

Advertisement