Activist Rejects CommonWealth Deal, Pushes For New Board

Law360, New York (January 16, 2014, 4:26 PM EST) -- Activist hedge fund Corvex Management LP on Thursday brushed off a compromise that would have ended a long-running standoff with CommonWealth REIT, opting instead to spearhead a complete overhaul of the office property owner's board of trustees.

The rejection comes less than two weeks after CommonWealth, extending an olive branch, invited Corvex head Keith Meister to join the board. At the time, the company also said it had appointed a pair of new trustees as part of a bigger plan to add new faces — a...
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