Howard Hughes jumps after Bill Ackman's 'letter proposal' on X.com

Howard Hughes Holdings

13/01/2025 10:19

** Shares of Howard Hughes  HHH.N  up 9.6% at $78.65
premarket
    ** Billionaire investor Bill Ackman says on X.com he has
written a "letter proposal" to the real estate developer
    ** Ackman on Sunday asked HHH investors to "watch out for
our amended HHH Schedule 13D that we will file with the @SECGov
at 6am Eastern, tomorrow morning" in the social media post
    ** HHH stock up 15% since Ackman's Pershing Square Capital
Management, already the biggest owner of Howard Hughes, said it
was considering taking co private in August
    ** Howard Hughes is one of Pershing Square's longest-held
investments and Ackman has been personally involved with the
company for a decade and stepped off its board in April 2024
    ** Stock hit a four-month low on Friday, down about 18% from
its 2-1/2 year high in November

 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))