Pershing Square proposes to buy 10 million shares in Howard Hughes for $90 per share (updated)

Howard Hughes Holdings

18/02/2025 21:15

(Adds shares in paragraph 2, details in paragraphs 3 and 4)
       Feb 18 (Reuters) - Billionaire investor Bill Ackman's
Pershing Square Capital Management said on Tuesday it would buy
10 million newly issued shares of Howard Hughes Holdings  HHH.N 
for $90 apiece in its revised proposal for the real estate
developer.
    Shares of Howard Hughes dipped 4.2% after the bell.
    The proposed deal would take Pershing's stake in Howard
Hughes to 48% from 37.6%.
    Under the proposal, Ackman would become chairman and CEO of
Howard Hughes, Pershing said.

 (Reporting by Utkarsh Shetti in Bengaluru; Editing by Shilpi
Majumdar)
 ((UtkarshUmesh.Shetti@thomsonreuters.com;))