Howard Hughes Holdings shares surge on buyout offer from Bill Ackman's Pershing Square

Pershing Square Holdings

13/01/2025 12:18

(Updates)
    ** Shares of real estate developer Howard Hughes  HHH.N  up
10.7% at $79.48 in premarket trading
    ** Billionaire investor Bill Ackman's Pershing Square
 PSH.AS , which along with its affiliates, has a 37.6% stake in
the company, offers to buy the remaining stake in HHH for $85
per share
    ** HHH stock up about 15% since Pershing Square Capital
Management, already the biggest owner of Howard Hughes, said it
was considering taking co private in August
        ** Texas-based HHH has a market capitalization of $3.6
billion, according to data compiled by LSEG
  
    ** Stock hit a four-month low on Friday, down about 18% from
its 2-1/2 year high in November

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