Stratus Properties rejects $27.18/share NXSTEP bid; receives revised $27.30 offer

STRATUS PROPERTIES INC

Received unsolicited, non-binding proposal from NXSTEP on Jan 24 at $27.18/share; Board unanimously rejected as undervaluing company.
On Feb 20, NXSTEP raised estimated net purchase price to ~$27.30/share, subject to same conditions and incorrect assumptions.
Stockholder Oasis Management filed Schedule 13D amendment supporting NXSTEP's proposal.
Board will consider updated proposal consistent with fiduciary duties and respond in due course.

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