Ramco-Gershenson shareholder nominates two for election to board

By Lisa Kerner

Charlotte, N.C., April 9 - Equity One, Inc. said it will nominate two candidates for election to Ramco-Gershenson Properties Trust's board of directors at the company's annual meeting.

The 9.6% shareholder is nominating David J. Nettina, formerly a senior executive with American Financial Realty Trust, and Matthew L. Ostrower, formerly a member of Morgan Stanley's equity research department, according to an Equity One news release.

In a separate release, Ramco-Gershenson said the nominating and governance committee of its board will consider the individuals proposed by Equity One and will respond "in due course."

"We believe that electing our two independent director nominees is the best way for RPT [Ramco-Gershenson] shareholders to help ensure an optimal result from RPT's recently announced review of strategic alternatives," Equity One chief executive officer Jeff Olson said in his company's release.

"Additionally, our nominees will consider seriously any value creation opportunity from a possible business combination with a qualified partner, including Equity One," Olson said.

On March 25, Ramco-Gershenson said it was considering strategic alternatives with the assistance of Merrill Lynch & Co. Equity One then suggested acquiring Ramco-Gershenson.

Ramco-Gershenson is a real estate investment trust based in Farmington Hills, Mich.

Equity One is a North Miami Beach, Fla.-based real estate company.

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