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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Contacts
Jeff Shookus
Irenic Capital Management
contact@irenicmgmt.com
