CommonWealth REIT board sends letter to shareholders CommonWealth REIT announced that it has mailed a letter to shareholders asking them to support the Board’s continuing efforts to create long term value for all shareholders rather than the ongoing effort by Related Fund Management, LLC and Corvex Management LP to seize control of CWH without paying shareholders anything for that control. CommonWealth says “Related/Corvex recently announced they have given Sam Zell $17M of in-the-money CWH stock options to serve as one of their designated replacement trustees, but they have offered nothing to shareholders. We believe the options which Related/Corvex have granted to Zell are intended to encourage him to support the Related/Corvex short term and reckless plan for CWH, which could destroy value for long term shareholders. We look forward to continuing to engage with shareholders in the coming weeks and will continue to vigorously defend the interests of all CWH shareholders.”
News For CWH From The Last 14 Days
Check below for free stories on CWH the last two weeks.
CommonWealth REIT upgraded to Buy from Hold at Stifel Stifel upgraded CommonWealth (CWH) to Buy following the sale of its stake in Select Income REIT (SIR) for $705M. The analyst said the sale will allow the company to pay down its $735M outstanding term loan revolver and views the new CFO announcement as a positive. Price target is $28.50.