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Crown Castle International Corp. (CCI): Corvex Capital Goes Activist and Issues Presentation; See Details

Keith Meister, the manager of Corvex Management, has gone activist on Crown Castle International Corp. (NYSE:CCI) and issued a presentation and a letter sent to other shareholders of the company. In the letter, Corvex stated that it has been a long-term shareholder of Crown Castle International Corp. (NYSE:CCI), currently holding around 12.6 million shares. Among other things, the fund mentioned that after an analysis of the company and its situation, Corvex sees the opportunity for the company to gain 27% in equity re-rating in the near-term, while the long-term potential for 15 months stands at over 60%.

Keith Meister

The full text of the letter is available below. On the following pages you can see the presentation that Corvex issued regarding Crown Castle International Corp. (NYSE:CCI).

Another large shareholder of Crown Castle International Corp. (NYSE:CCI) is John H. Scully‘s SPO Advisory Corp, which owns around 10.75 million shares as of the end of the second quarter of 2014.

Corvex Capital Letter to Crown Castle International