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Stock Market & Financial Investment News

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March 10, 2014
09:01 EDTCWHCommonWealth REIT waives option to classify board under Maryland law
CommonWealth REIT announced the CWH Board of Trustees has confirmed its commitment to best in class governance by permanently waiving the option to classify its Board under provisions of the Maryland Unsolicited Takeover Act, or MUTA, unless approved by a majority of common shares outstanding. As announced last year, the CWH Board has endorsed, and will submit to a shareholder vote at the June 2014 annual shareholders’ meeting, an amendment to CWH’s Declaration of Trust to allow for the de-classification of the Board and the annual election of all Trustees. To facilitate this change, last year CWH opted-out of MUTA provisions which allow for classifying the Board. The action announced today permanently precludes the CWH Board from opting-in to these provisions of MUTA without shareholder approval.
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