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Market
How will Howard Hughes Holdings' market cap change by March 31, 2025, in response to the merger proposal?
3
Bill Ackman•Pershing Square Capital Management•Howard Hughes Holdings•Pershing Square•Howard Hughes•Ackman
Resolution / Starting Odds
Increase by more than 10% • 25%
Increase by less than 10% • 25%
Decrease • 25%
No significant change • 25%
Financial reports and market data
Story
Bill Ackman's Pershing Square Proposes Merger with Howard Hughes Holdings at $85 Per Share, Offering 38% Premium
Jan 13, 2025, 12:11 PM
Bill Ackman's Pershing Square Capital Management has proposed a merger with Howard Hughes Holdings, offering to acquire the real estate company at $85 per share. This proposal represents a 38% premium over the stock's price before the announcement. The deal includes a $1 billion cash offer and a $500 million share buyback, to be financed through bonds. Pershing Square, which already owns about 38% of Howard Hughes, plans to form a new subsidiary to facilitate the merger. Ackman has expressed dissatisfaction with Howard Hughes's stock performance despite recognizing the company's management and business progress. The merger aims to keep Howard Hughes's current leadership and strategy intact, with no changes intended for the organization or its employees.
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Similar markets
Diversification of portfolio • 25%
Focus on existing markets • 25%
Expansion into new markets • 25%
No change • 25%
Not approved • 25%
Approved but not completed • 25%
Withdrawn • 25%
Approved and completed • 25%
$85-$90 • 25%
Above $90 • 25%
Below $80 • 25%
$80-$85 • 25%
No • 50%
Yes • 50%
Less than $3 billion • 25%
$5 billion to $7 billion • 25%
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$3 billion to $5 billion • 25%
Other Outcome • 25%
Merger Cancelled • 25%
Successful Completion • 25%
Merger Delayed • 25%
New CEO appointed • 25%
David O'Reilly remains CEO • 25%
No CEO • 25%
Interim CEO appointed • 25%
No • 50%
Yes • 50%
No • 50%
Yes • 50%