Crown Castle has told Verizon it would be interested in a deal, Jay Brown, the tower company's chief financial officer, said last month during an investor conference. "If the company does not have the right cost of capital, it should not be pursuing acquisitions or issuing equity, whether for Verizon's towers or any other transaction," Keith Meister, managing partner at Corvex, said in the letter. "But let's be clear, we want Crown Castle to correct its capital allocation plan, reduce its cost of capital, and then bid for the Verizon towers."