Indaba builds 3% stake in Equity Commonwealth, urges liquidation, Bloomberg says

Indaba Capital Management has acquired a position in Equity Commonwealth, Crystal Tse of Bloomberg reported, citing a letter reviewed by Bloomberg News. Holding nearly 3% of the trust, the investor is urging the company to halt its search for acquisitions and instead focus on liquidating itself. Indaba argues that a year-end deadline to choose between a major acquisition and liquidation encourages bad decision-making.