Colony Capital Pushes Back As Activist Seeks Major Shake-Up

By Benjamin Horney (November 26, 2019, 6:28 PM EST) -- Colony Capital, advised by Hogan Lovells, shot back Tuesday at attempts from activist investor Blackwells to oust its top executive and nominate five people to its board of directors, saying that while it is open to shareholder suggestions, Blackwells' criticism is off the mark.

The two companies traded barbs Tuesday, with Blackwells Capital LLC issuing a statement that took aim at Colony Capital Inc.'s performance under executive chairman and CEO Tom Barrack, and Colony Capital decrying the notion that the changes Blackwells is seeking are necessary.

Blackwells, which holds a roughly 1.85% interest in Colony Capital, said the real estate private...

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