Reported 1 day ago
Pershing Square Capital Management, led by Bill Ackman, has proposed a merger with Howard Hughes Holdings, offering $85 per share, primarily in cash, reflecting a 38.3% premium from August. Ackman, who has a 37.6% stake in Howard Hughes, aims to transform the company into a 'modern-day' Berkshire Hathaway, focusing on investments in new ventures and retaining existing employee jobs. The merger would involve buying shares from current investors and a significant stock repurchase by Howard Hughes.
Source: YAHOO