Commonwealth REIT Slams $3B Corvex, Related Takeover Bid

Law360, New York (April 15, 2013, 7:13 PM EDT) -- CommonWealth REIT on Monday said it has rejected a $2.9 billion offer by hedge fund Corvex Management LP and Related Fund Management LLC to purchase all of Commonwealth’s shares, as it has determined it is in shareholders’ and the company’s best interests not to pursue a sale.

The bid by Corvex and Related Fund appears to be part of a plan to seize control of Commonwealth for their own benefit or to make a quick profit by forcing a sale of the company before the full...
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