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Luxor Capital Group, LP, a New York
based investment manager ("Luxor"), beneficially owns and controls in excess
of 6.7 million common shares of CommonWealth REIT
CWH, or
approximately 8.0% of the common shares outstanding. Luxor is releasing the
following open letter to the Trustees of CWH:
To the Board of Trustees:
On February 27, 2013, CommonWealth REIT ("CWH" or the "Company") announced
that it had priced 30,000,000 shares of Common Stock in a public offering (the
"Offering") at $19.00 per share. On February 28, 2013, the Issuer announced
the underwriters had exercised the overallotment option on 4,500,000 shares,
and on March 1, 2013, the Issuer announced that it had increased its maximum
tender offer amount with respect to outstanding debt to $650,000,000. In
response to these decisions by you, we are actively exploring litigation to
recoup the value destroyed by the Offering and are willing to use any and all
appropriate legal means to prevent further destruction of shareholder value.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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