CommonWealth fires back at dissident shareholders

"Related/Corvex's business plan for CommonWealth REIT (CWH) is reckless and not credible given [their] track record of destroying shareholder value in publicly owned real estate companies," says CommonWealth management, responding to the consent solicitation.

Adam Portnoy: "Related/Corvex's recent actions only reinforce that they are using the veil of corporate governance to pursue control of CWH for their own benefit. We believe that Related/Corvex's handpicked slate of trustees will work on behalf of Related/Corvex rather than all CWH shareholders."

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Comments (3)
  • Chris DeMuth Jr.
    , contributor
    Comments (11750) | Send Message
    As Mr. Portnoy will soon be out of a job at CommonWealth, he should consider standup comedy with routines in which he says things like, "they are using the veil of corporate governance to pursue control of CWH for their own benefit". You can almost hear him laughing when he said this.
    4 Feb 2014, 09:09 AM Reply Like
  • toomuchgas
    , contributor
    Comments (1045) | Send Message
    The Pot or maybe Portnoy calling the kettle back.
    4 Feb 2014, 03:45 PM Reply Like
  • dave403
    , contributor
    Comments (43) | Send Message
    awful management. i lost substantial $$. sold because i didnt see corvex et al coming. the portnoy's have enriched themselves at shareholder expense. too late for me, but long overdue for those still hanging on.
    5 Feb 2014, 01:53 PM Reply Like
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