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February 28, 2014
08:30 EDTCWHCommonWealth REIT says board focused on creating long-term value for investors
CommonWealth REIT announced that it has made available to shareholders an investor presentation on the Company’s website at www.cwhreit.com. The presentation outlines the clear differences between the business plan being successfully executed by the CWH Board and management and the scheme for CWH proposed by Related Fund Management, LLC and Corvex Management LP. The CWH Board and management are focused on delivering superior results for all shareholders, as evidenced by CWH’s recently announced fourth quarter results that exceeded expectations on most financial and operating metrics. In contrast, Related/Corvex are attempting to take control of CWH without paying shareholders anything for that control. We also believe the Related/Corvex scheme would place CWH’s common stock dividend and investment grade debt ratings at risk. The CWH Board and management believe that the continued execution of the Company’s business strategy is in shareholders’ best interests for the following reasons: The CWH Board and management team remain focused on creating long term value for all CWH shareholders. "Now that the CWH business plan is generating real value for shareholders, we believe Related/Corvex are attempting to take control of CWH for short term profits and without paying anything to shareholders. We believe Related/Corvex’s scheme for CWH is focused on the short term at the expense of long term shareholder value," the company said.
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