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BREAKING: Bill Ackman’s Pershing Square offers to take over Howard Hughes for $85 a share

By: Woodlands Online Staff
| Published 01/13/2025

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THE WOODLANDS, TX – CNBC and other outlets are reporting that Bill Ackman’s Pershing Square is forming a new entity to merge with Howard Hughes Holdings, offering current holders of the real estate company $85 a share.

Ackman is an American billionaire hedge fund manager who is the founder and chief executive officer of Pershing Square Capital Management, a hedge fund management company. The 58-year-old who graduated from Harvard has an estimated worth according toForbes of $9.2 billion.

Pershing currently owns about 38% of Howard Hughes, after having first invested in it in 2010 in a $250 million rights offering at $47.62 per share. Over the last 14 years, Pershing’s investment produced a 35% total return, or a 2.2% compound annual return. The company has also paid zero dividends since its inception.

In a letter to the Howard Hughes board, Ackman stated, “We do not intend to make any changes to the HHC organization, its employees, or its long-term strategy. We would expect all HHH current employees to remain employed as a result of the transaction.”

Woodlands Online has reached out to Howard Hughes for comment. Stay tuned for updates to this breaking story.

Howard Hughes confirms receipt of unsolicited acquisition proposal from Pershing Square

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