Related, Corvex Say They Have Votes to Oust CWH Board

NEW YORK CITY—Holders of more than 81% of CommonWealth REIT’s common shares have voted to oust the Newton, MA-based office REIT’s board, Corvex Management LP and Related Fund Management LLC said late Tuesday afternoon. The two locally based companies, which collectively own 9.6% of CWH’s stock, had sought first to buy the REIT and then to remove its board since March of last year.

CWH has five business days, or until March 25, to have the shareholders’ written consents inspected and the results of the new solicitation declared. A two-thirds majority was required to remove the board, and Corvex and Related had until Thursday to obtain that majority.