Corvex Management LP has built up a 7.1% stake in U.S. real estate investment trust American Realty Capital Properties Inc., paying $71.1 million for shares and $158.1 million for call options on shares.
Shares in ARCP have fallen sharply since October, when accounting errors at the company were disclosed.
Corvex said it had held discussions with the board of ARCP on adding a representative and boosting value.
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