Corvex Management LP released a letter and presentation to shareholders of Crown Castle International (CCI) Tuesday morning, outlining a proposal to improve the company's capital allocation strategy. Corvex owns approximately 12.6 million shares of the company's stock.
Crown Castle International gapped open higher Tuesday and is now up 2.89 at $81.36 in early trade. The stock is challenging the upper end of nearly a 2-month range at the highs of the year.
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