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Wednesday, February 27, 2013

Corvex, Related increase offer for CommonWealth REIT, (NYSE: CWH)

Activist investor Keith Meister and real estate major Related Cos said they were prepared to increase their takeover offer for CommonWealth REIT to $2.26 billion, or $27 per share. The increased proposal is subject to CommonWealth cancelling its planned equity offering and engaging in talks, Corvex and Related wrote in a letter to the real estate trust's board obtained by Reuters.

CommonWealth REIT (CWH) is a real estate investment trust (REIT). Shares of CWH fell by 8.16% or $-1.99/share to $22.41. In the past year, the shares have traded as low as $13.46 and as high as $24.55. On average, 1228490 shares of CWH exchange hands on a given day and today's volume is recorded at 20781106.