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Stratus Properties Shareholder Carl E. Berg Announces Shareholder Proposal to Explore Merger, Sale of Co


Carl E. Berg, who is the largest shareholder (17.4%) of Stratus Properties Inc. (Nasdaq: STRS), announced tuesday, that he has submitted to Stratus a shareholder proposal for inclusion in the Stratus proxy statement for the 2016 Annual Meeting of Stockholders and for submission to a stockholder vote at the 2016 Annual Meeting of Stockholders.  The proposal calls upon the Stratus Board of Directors to engage a nationally recognized investment banking firm to explore a prompt sale, merger or other business combination of Stratus so Stratus' stockholders may realize the true value of their Stratus shares.  A supporting statement accompanying the proposal discusses reasons underlying Mr. Berg's decision to submit the proposal to Stratus and seek a stockholder vote on the proposal.

Mr. Berg also announced that he has informed the Company that he intends to nominate two persons for election as directors of Stratus at the 2016 Annual Meeting of Stockholders.  None of Stratus' six current directors were nominated by Mr. Berg for election or appointment to the Stratus Board of Directors.  The Stratus board is staggered, and, as a result, Stratus' stockholders will only be electing two directors at the 2016 Annual Meeting.  Mr.

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Posted-In: M&A News Asset Sales Management Press Releases


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