Howard Hughes hits one-month high as Ackman's Pershing Square raises stake

Pershing Square Holdings

05/05/2025 14:46

Updates

** Shares of real estate developer Howard Hughes Holdings HHH.N up 5.8% at $71.39, their highest since April 3

** HHH marks its biggest intraday pct. jump since April 9

** Billionaire investor Bill Ackman's Pershing Square to buy 9 million newly issued shares in HHH for $900 million

** Following transaction, Pershing Square will own 46.9% of HHH's outstanding shares

** Ackman named executive chairman of Howard Hughes; HHH CEO David O'Reilly to continue in the role

** Stock down ~8% this year, including session move

(Reporting by Sameer Manekar in Bengaluru)

((Sameer.Manekar@thomsonreuters.com;))