Tag #Howard Hughes

What is the immediate impact of Pershing Square's offer on Howard Hughes Holdings' stock price and shareholder value?

Pershing Square, led by Bill Ackman, is offering $85 per share to acquire Howard Hughes Holdings, representing a 38.3% premium to the unaffected stock price. This follows Pershing's 14-year investment yielding a 35% total return, significantly below market expectations. The deal proposes a new Pershing subsidiary merging with Howard Hughes, with current management remaining.