Corvex Management LP and Related Cos offered to buy CommonWealth REIT (CWH:US) for $24.50 a share and said they will pursue removing the company’s board if a takeover bid isn’t accepted.
The proposal represents a reduction from the investor group’s February bid of $27 a share following a CommonWealth equity offering, Corvex and Related said today in a statement. They own about 9 percent of the real estate investment trust.
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