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Ramco, Equity Settle Proxy Fight

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Ramco-Gershenson and Equity One have been talking since at least late March. In April it nominated two to Ramco's board. Ramco has accepted those nominations and will expand its board in a new proposed slate.

Ramco-Gershenson Properties Trust said Tuesday it agreed to seat two nominees from a dissident slate on its board in a deal that settles a proxy contest with one of its largest shareholders.

David J. Nettina and Matthew L. Ostrower will be added to the real estate investment trust newly expanded board before Ramco's annual meeting, slated for June 10.

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In return, Equity One, which owns 9.6 percent of Ramco, agreed to withdraw its nominees and vote for Ramco's slate.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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