Shareholders Will Decide Fate of CWH Board

NEWTON, MA-Now almost a year in progress, the Related Fund Management/Corvex Management LP battle to take over locally based CommonWealth REIT has taken another turn with Related and Corvex formally requesting a record date for a shareholder vote to remove CWH’s entire board. Related and Corvex are urging CWH shareholders to approve a new board to be led by Sam Zell.

In response, CWH, which last week set Feb. 18 as the record date pending receipt of a formal request from Related and Corvex, on Tuesday filed an investor presentation asking for shareholders’ continued support. The consent solicitation by Related and Corvex is to be completed no later than March 20.