Billionaire Zell Joins CommonWealth REIT Dissident Slate
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Billionaire investor Sam Zell has joined a slate of nominees by investors seeking to overthrow the board of CommonWealth REIT, the U.S. office landlord being targeted by claims of mismanagement and conflicts of interest.
Zell and David Helfand, co-president of Zell’s Equity Group Investments, will join the proposed slate of directors to be nominated at a special meeting of CommonWealth shareholders if the current board is removed, according to a statement today from investors Corvex Management LP and Related Cos.