CommonWealth Opens Board To Activist, Hoping To End Fight

Law360, New York (January 6, 2014, 12:21 PM EST) -- CommonWealth REIT on Monday invited Keith Meister, head of activist hedge fund Corvex Management LP, to join an expanded board of independent trustees in an effort to resolve a lengthy dispute over the office property owner's management.

Alongside Related Cos., New York-based Corvex for nearly a year has sought to implement sweeping changes at CommonWealth after what they have said are decades of mismanagement. Late last year, the activists — which together hold nearly 10 percent of the real estate investment trust's shares — redoubled a call...
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