Howard Hughes Holdings confirms potential offer from Pershing Square

8th Aug 2024 13:38

(Sharecast News) - Real estate firm Howard Hughes Holdings said on Thursday that it had received a potential takeover offer from billionaire Bill Ackman's Pershing Square Capital Management.

Pershing Square, which is the largest shareholder with an interest of about 37.5%, said in a regulatory filing on Wednesday that it was evaluating the possibility of various potential alternatives with respect to its investment in the group.

This includes a possible transaction in which it - either alone or together with one or more potential co-investors - may buy all or substantially all of the shares of common stock in the company it does not already own and potentially take it private.