Irenic Calls on Equity Commonwealth to Heed Shareholder Feedback and Pursue a Liquidation
Irenic Capital Management, LP, a major shareholder of Equity Commonwealth (NYSE: EQC), has called for the company's Board of Trustees to pursue a liquidation strategy.
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“After a decade of underperformance, it is time for EQC’s Board to focus exclusively on an orderly liquidation. This value-maximizing path offers certainty for shareholders, who are clearly opposed to gambling on any ‘transformative’ acquisition. We agree with Indaba Capital and Land & Buildings, and we urge the Board to heed the clear shareholder feedback and commit to scheduling a vote on a prospective liquidation when second quarter earnings are announced next week.”
About Irenic
Irenic Capital Management, LP is an investment management firm founded by Adam Katz and Andy Dodge. Based in
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Jeff Shookus
Irenic Capital Management
contact@irenicmgmt.com
Source: Irenic Capital Management LP