InsideArbitrage Potential Deal Alert: Bill Ackman’s Pershing Square Weighs Deal to Take Property Group Howard Hughes (HHH) Private

POTENTIAL DEAL DETAILS

Bill Ackman’s Pershing Square is considering a deal to delist $3 billion real estate company Howard Hughes Holdings (HHH), according to a regulatory filing.

Pershing Square, the largest shareholder of the real estate company with a 38% stake, has enlisted investment bank Jefferies to assess the feasibility of taking the company private. They may also approach co-investors for financial support in the deal.

Howard Hughes Holdings Inc. Investor Relations

Pershing Square Capital Management Investor Relations

Update(s):

August 8, 2024: Howard Hughes (HHH) announced that it has formed a Special Committee comprised of independent directors to review any proposal by Pershing Square, as and when received, and evaluate it in light of other strategic alternatives that may be available to the company.

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