They are two of the five trustees on CommonWealth's board.
On April 15, CommonWealth's board rejected the Corvex/Related takeover offer, saying in a news release that it seemed to be a plan by the outside investors to "seize control of CommonWealth for their own benefit".
Related and Corvex Management, a firm run by Keith Meister, wrote in a letter to CommonWealth's board that they were prepared to raise their bid to $27 a share from $25 a share.
On March 1, CommonWealth's board passed a bylaw amendment that purports to require that any shareholder wishing to undertake a consent solicitation must, among other things, own 3 percent of the company's shares for three years.
The next day, CommonWealth said its board determined that Mr. Morea's loss seemed related to its battle with outside shareholders hoping to oust the trustees, rather than to any personal failings.
Both father and son, moreover, serve on CommonWealth's five-member board.
But recent maneuvers by the board of the CommonWealth real estate investment trust put the company in a class by itself.
CommonWealth already has such a board, but the company has also reportedly lobbied the legislature to make a change that companies opting into this statute would now be unable to have their directors removed by written consent.
Yes, the federal court ruling – that the environment minister, Greg Hunt, failed to consider all departmental advice on protecting the two vulnerable species when approving the project – sends both the company and the commonwealth back to the drawing board.
The company, moreover, has enlisted a former United States ambassador in Oman and elsewhere, Frances Cook, and a high-ranking official of the 54-nation Commonwealth, Moses Anafu, to join its board as nonexecutive directors, according to public documents.
