Brief: Pershing Square Says HHH Stockholders Would Have The Option Of Receiving More Than A Majority Of Their Merger Consideration In Cash At $85.00 Per Share

Pershing Square Holdings

13/01/2025 11:40

Jan 13 (Reuters) - 
  
    * PERSHING SQUARE-PROPOSING A POTENTIAL MERGER TRANSACTION
WITH
HHH
    * PERSHING SQUARE: $500 MILLION REPURCHASE WILL BE FINANCED
BY
BONDS NEWLY ISSUED BY THE COMPANY
    * PERSHING SQUARE - PURCHASE BY PERSHING SQUARE HOLDCO OF
11,764,706 SHARES AT $85 PER SHARE FOR $1 BILLION FROM
NON-PERSHING SQUARE AFFILIATE SHAREHOLDERS OF HHH
    * PERSHING SQUARE: CLOSING OF THE TRANSACTION, SENIOR
LEADERSHIP
TEAM OF PERSHING SQUARE HOLDCO WOULD ASSUME EXECUTIVE LEADERSHIP
ROLES AT HHH BUT NOT AT HHC
    * PERSHING SQUARE -  HHH SENIOR LEADERSHIP TEAM WOULD BE
COMPRISED
OF ACKMAN AS CHAIRMAN AND CEO, AND MIKE GONNELLA AS CFO
    * PERSHING SQUARE- HHH STOCKHOLDERS WOULD HAVE THE OPTION OF
RECEIVING MORE THAN A MAJORITY OF THEIR MERGER CONSIDERATION IN
CASH AT $85.00 PER SHARE

Source text: https://tinyurl.com/37zyvbh2
Further company coverage:  HHH.N 

 ((Reuters.Briefs@thomsonreuters.com;))