CommonWealthREIT Close $ 62.8 billion U.S. dollars in stock sale

CommonWealthREIT Close $ 62.8 billion U.S. dollars in stock sale 

Two shareholders filed a lawsuit against the Federal Bureau of alleged misleading and deceptive 

World preta, ™ (NYSE: CWH) shares fell about 5% after 6 March the company announced that its 3.45 billion shares of stock issue has been closed. Real Estate Investment Trusts, across the United States hundreds of owners and managers of office properties, said it would use the proceeds of approximately $ 627.6 million (A, ¤ 416 万) to buy back debt. 

World conflict, there are two major shareholders - hedge funds Corvex management and real estate-related fund management company, real estate investment trusts, nearly 10% stake, and make a general offer. Two shareholders filed two separate lawsuits the world, trying to stop the sale of the shares and accused the Commonwealth trustee attempts to mislead and fraud shareholder. The complaint alleged that the REIT has repeatedly violated its fiduciary duty to shareholders and the pursuit of the stock sale â € œto failed efforts to change the existing shareholders in company.â €? However, a federal judge in Boston rejected the activist investor trying to stop the transaction and allow real estate investment trusts for sale. 

CommonWealthâ managers, real estate investment trusts Management and Research (RMR), in the center of shareholder opposition. RMR run from the company and the owners charged, Adam Portnoy and his father Barry, sitting REIT's Board of Directors. Managing Director Jim Sullivan, in Green Street adviser told Bloomberg on March 6, more investors are likely to follow, driven Corvex and related management of other real estate investment trusts by the RMR. 

RMR, the nation's largest listed real estate investment trust company, the management and operation of government property income trusts, real estate trusts hotel, senior housing property trusts and real estate investment trusts choose revenues. Although CommonWealthâ € ™'s share price has fallen by 17% in 12 months through February 25, RMR managed by the shares of other companies in the same period rose. Senior Housing Affairs saw its stock price attribute 12% of the increase, the government property income rose 5%, Hospitality Properties Trust - 3.8%. Select REITA of income surged 18 percent since the company's initial public offering in March last year. 

Green Street Advisorsâ Sullivan said on Qigu Dong outside interests and management of real estate investment trusts managed the creation of AA € œfundamental differences. RMR cases, running guy, Donna € ™ t own real estate investment trusts REITs.â €? 

Luxor Capital Group, the third shareholders following the footsteps Corvex and related, has threatened to launch a takeover activities should CommonWealthâ € ™ board ignored its demands, including stopping March 6 sell stocks and participate in the discussion of potential improve management, real estate investment trusts.