NXSTEP Opportunity Partners sent a non-binding proposal to acquired Stratus Properties Inc. (NasdaqGS:STRS) from Oasis Investments II Master Fund Ltd., a fund manage by Oasis Management Company Ltd. and others for $220 million on January 24, 2024. As part of consideration, Stratus Properties shareholders will receive $27.18 for each share in cash. On February 20, 2024, NXSTEP increased its purchase price to approximately $27.30 per share in cash.

NXSTEP Opportunity Partners cancelled the acquisition of Stratus Properties Inc. (NasdaqGS:STRS) from Oasis Investments II Master Fund Ltd., a fund manage by Oasis Management Company Ltd. and others on February 21, 2024. Stratus? board of directors considered the proposal and determined unanimously that the proposal substantially undervalues the company.