Pershing Square’s Bill Ackman hiked his takeover offer for Howard Hughes Holdings. The billionaire investor said Tuesday that his firm has submitted a proposal to acquire 10 million newly issued Howard Hughes shares at $90 per share. Bill Ackman, CEO of Pershing Square Capital Management, speaks during an interview for an episode of “The David Rubenstein Show: Peer-to-Peer Conversations,” in New York on Nov. 28, 2023. Jeenah Moon | Bloomberg | Getty Images
Pershing Square’s Bill Ackman hiked his takeover offer for Howard Hughes Holdings to create a “modern-day” Berkshire Hathaway.
The billionaire investor said Tuesday that his firm has submitted a proposal to acquire 10 million newly issued Howard Hughes shares at $90 per share. Back in January, Ackman proposed forming a new subsidiary of Pershing to merge with Howard Hughes, offering current holders $85 a share.
If the newly proposed transaction goes through, Pershing Square will own 48% of the real estate developer based in The Woodlands, Texas. The revised transaction does not require regulatory approvals, a shareholder vote or financing, so can be