On March 13, 2013, Guru Richard Perry
of Perry Capital bought 6,500,000 shares of a new holding, CommonWealth REIT (NYSE:CWH
), at the current price $22.01, with a change from average up 1%. CommonWealth REIT is an office and industrial real estate investment trust that invests in commercial office buildings located in major metropolitan areas throughout the U.S. and in Australia.
According to Bloomberg today, the company is up against a campaign by its largest shareholders, Corvex Management LP and The Related Companies LP, to remove the board of directors. Corvex Management and Related Companies own around a 10% stake in CommonWealth REIT, and are interested in acquiring the real estate investment trust. Perry’s recent 13D filing says that Perry supports efforts to improve the company’s corporate governance. Continue Reading »