Corvex Management LP and Related Cos offered to buy CommonWealth REIT (CWH) for $24.50 a share and said they will pursue removing the company’s board if a takeover bid isn’t accepted.
The proposal represents a reduction from the investor group’s February bid of $27 a share following a CommonWealth equity offering, Corvex and Related said today in a statement. They own about 9 percent of the real estate investment trust.
To contact the reporter on this story: Brian Louis in Chicago at email@example.com
To contact the editor responsible for this story: Kara Wetzel at firstname.lastname@example.org