CommonWealth REIT Reconfirms Intent to Pursue Stock, Debt Offering
CommonWealth REIT (NYSE: CWH) (“CommonWealth”) today announced that its Board of Trustees has re-confirmed its prior determination that the best interests of CommonWealth will be served by CommonWealth continuing the common share offering and debt tender offer previously announced on February 25, 2013. This second confirmation is issued to respond to the latest information received by CommonWealth from Corvex Management LP (“Corvex”) and Related Fund Management, LLC (“Related”).
The Board of Trustees' decision to re-confirm was made after considering the amended Schedule 13D that was jointly filed on February 27, 2013 by Corvex and Related with the Securities and Exchange Commission, including the additional “open letter” from Corvex and Related and the form of complaint that were filed as exhibits to that amendment, and the litigation that was subsequently commenced by Corvex and Related. Commonwealth has included the additional open letter from Corvex and Related and the form of complaint that Corvex and Related filed as exhibits to their Schedule 13D amendment as exhibits to a Form 8-K CommonWealth filed earlier today.
The Corvex and Related documents mentioned above are not the Company's documents and the Company does not endorse or confirm, and is not responsible for, their content. Reference to these Corvex and Related documents is intended only to provide context to today's announcement.
This press release is neither an offer to sell nor a solicitation of an offer to buy CommonWealth common shares, nor shall there by any sale of these securities in any state or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. The preliminary prospectus supplement relating to this offering and related prospectus have been filed with the Securities and Exchange Commission and copies can be obtained by contacting the offices of Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (800) 831-9146; BofA Merrill Lynch, Attn: Prospectus Department, 222 Broadway, New York, NY 10038; email email@example.com; UBS Investment Bank, Attn. Prospectus Department, 299 Park Avenue, New York, NY 10171, telephone (888) 827-7275; or Morgan Stanley, Attn: Prospectus Department, 180 Varick Street, 2^nd floor, New York, NY 10014, telephone (866) 718-1649; email: firstname.lastname@example.org.
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