Corvex, Related lower offer for CommonWealth REIT

March 28 Thu Mar 28, 2013 1:11pm EDT

March 28 (Reuters) - Activist investor Keith Meister and real estate major Related Cos lowered their offer for CommonWealth REIT to $24.50 per share from $27, citing CommonWealth's recently completed equity offering.

Related and Meister's Corvex Management LP, who together own about 9 percent of CommonWealth shares, also said the company should not sell its controlling stake in Select Income REIT as they believe the shares would be sold at a discount, the two told CommonWealth in a letter seen by Reuters.

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