Irenic Calls on Equity Commonwealth to Heed Shareholder Feedback and Pursue a Liquidation
July 26 2024 - 8:00AM
Business Wire
Irenic Capital Management, LP, one of the top shareholders of
Equity Commonwealth (NYSE: EQC) (“EQC” or the “Company”), today
issued the following statement regarding the need for the Company’s
Board of Trustees (the “Board”) to heed shareholder feedback and
pursue a liquidation of EQC:
“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 New York City, Irenic
works collaboratively with publicly traded companies to ensure
operating activities, capital deployment and management incentives
are all aligned to create value for the company and its owners. For
more information about Irenic, please visit www.irenicmgmt.com.
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Jeff Shookus Irenic Capital Management
contact@irenicmgmt.com