Billionaire investor Bill Ackman has ambitious plans to transform Howard Hughes Holdings (HHH -3.49%) into the next Berkshire Hathaway (BRK.A 0.02%) (BRK.B -0.13%). In this video, I'll discuss the latest developments with the potential deal, the current state of Howard Hughes' business, and why the company might think Ackman's offer is inadequate.
THE WOODLANDS, Texas, March 03, 2025 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE: HHH) (the “Company” or “HHH”) announced that the Special Committee of its Board of Directors (the “Special Committee”) responded to Pershing Square Capital Management L.P. (“Pershing Square”) indicating that the proposal received on February 13, 2025 (the “Revised Proposal”) is not acceptable in its current form. The Special Committee also announced that it has entered into a standstill agreement with Pershing Square to facilitate further discussions to explore potential alternatives. The standstill agreement will remain in effect until March 13, 2025, unless otherwise extended.
Howard Hughes Holdings Inc. (NYSE:HHH ) Q4 2024 Earnings Conference Call February 27, 2025 10:00 AM ET Company Participants Eric Holcomb - Senior Vice President, Investor Relations David O'Reilly - Chief Executive Officer Dave Striph - President of Asset Management & Operations Jay Cross - President Carlos Olea - Chief Financial Officer Conference Call Participants Alexander Goldfarb - Piper Sandler Anthony Paolone - JPMorgan John Kim - BMO Capital Markets Craig Bibb - Jasper Funds Operator Good day, and thank you for standing by. Welcome to Howard Hughes' Fourth Quarter 2024 Earnings Conference Call.
Who's going to one day fill Warren Buffett's shoes? If we're talking about Berkshire Hathaway (BRK.A 0.34%) (BRK.B 0.28%), the answer is easy.
Howard Hughes Holdings (HHH) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
I initially rated Howard Hughes Holdings a Hold due to historical financial challenges, despite its sophisticated business model. Bill Ackman and Pershing Square plan to acquire 48% of HHH at $90 per share, aiming to transform it into a high-ROI diversified holding company. Ackman's proposal includes a $900M capital infusion, leveraging his position to assume executive leadership and restructure HHH for long-term value creation.
Bill Ackman's Pershing Square Capital Management said on Tuesday it was revising its proposal to Howard Hughes Holdings and would pay $90 per share to buy 10 million newly issued shares in the real estate developer.
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Pershing Square hedge fund manager Bill Ackman recently made an offer to acquire a majority stake in real estate development company Howard Hughes Holdings (HHH 0.08%). The only problem is that there's a lot to dislike about the structure of Ackman's deal, as my colleague Tyler Crowe and I explain in this video.
Billionaire hedge fund manager Bill Ackman recently announced his intention to take control of real estate development company Howard Hughes Holdings (HHH -1.08%). But even though Ackman will own a majority stake, he plans to use this as Pershing Square's modern-day Berkshire Hathaway.