Mass. Movers

Investors target CommonWealth REIT

CommonWealth, of Newton, is a major owner of US office properties.

Globe File photo/2012

CommonWealth, of Newton, is a major owner of US office properties.


CommonWealth REIT rocketed higher Tuesday — following a sharp decline Monday — after the activist investor Keith Meister and Related Cos. said they were willing to buy the owner of office buildings for $2.1 billion or more, Reuters­ reported. Meister’s Corvex Management and Related Fund Management together hold nearly 10 percent of CommonWealth. They urged it to cancel a share and debt offering, cited a “track record of underperformance,” and said they’re prepared to try to oust CommonWealth’s board.

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