CommonWealth REIT Holders Vote to Oust Board, Corvex Says
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Shareholders representing 81 percent of CommonWealth REIT’s stock have voted to remove the company’s board, according to Corvex Management LP and Related Cos., the investors leading a campaign to overthrow management.
CommonWealth has five business days, or until March 25, to have the consents inspected and the results declared, Corvex and Related said in a statement today. A two-thirds majority is required to remove the U.S. office landlord’s board.