CommonWealth REIT (NYSE:CWH) today mailed the following letter to its shareholders:
March 11, 2014
To the Shareholders of CommonWealth REIT:
Protect The Value Of Your Investment In CommonWealth REIT. Please Sign, Date And Mail The WHITE Consent Revocation Card Enclosed With This Letter.Your vote is critical to your investment in CommonWealth REIT (“CWH”).
- The CWH Business Plan Is Producing Real Value For Shareholders . On almost every financial and operating metric, the fourth quarter 2013 results exceeded expectations.
- CWH Has Made Real And Significant Improvements To Its Governance . The changes we have made have placed CWH among the “best in class” of peer companies on matters of governance, and our management’s incentives are aligned with shareholders’ interests.
- Related/Corvex Have Track Records Of Destroying Shareholder Value . Both Keith Meister, the CEO of Corvex, and Jeff Blau, the CEO of the Related Companies, have, in our view, appalling track records of destroying shareholder value at public companies while making money for themselves.
- The Risks To Shareholder Value That May Result From Wholesale Removal Of The Entire CWH Board Are Real And Substantial . If the entire Board is removed, CWH faces the possibility of debt downgrades and defaults, business interruption and CWH’s dividend may be suspended and/or in jeopardy.