Investor warns Maguire

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One of the biggest shareholders of Maguire Properties Inc warned it may flex its muscles to gain control of the office building owner after it learned a deal to buy the company for $20 per share fell through.

Third Point LLC, which owns 8.8 percent of Maguire shares, said in a Securities and Exchange Commission filing it may try to change control of the board if it decides that Los Angeles-based Maguire did not act in what the hedge fund believed was in the best interest of shareholders.

A person familiar with the correspondence to the board identified the suitor as Pacific Office Properties which withdrew its $937 million offer on June 5 after Maguire rejected the buyout proposal.






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