Loading...
Market
What will be the outcome of the merger proposal between Pershing Square subsidiary and Howard Hughes Holdings by December 31, 2025?
3
Bill Ackman•Pershing Square Capital Management•Howard Hughes Holdings•Ackman•Howard Hughes•Berkshire Hathaway•Pershing Square
Resolution / Starting Odds
Approved and completed • 25%
Approved but not completed • 25%
Not approved • 25%
Withdrawn • 25%
Official announcements from Howard Hughes Holdings or Pershing Square, or SEC filings
Story
Bill Ackman Proposes Merger of Pershing Square Subsidiary with Howard Hughes Holdings at $85 per Share, Aiming for Modern-Day Berkshire Hathaway
Jan 13, 2025, 01:08 PM
Bill Ackman's Pershing Square Capital Management, which currently owns 37.6% of Howard Hughes Holdings, has proposed a merger between a newly formed subsidiary and the real estate developer, offering $85 per share to current shareholders. This proposal represents a 38.3% premium over the stock price before the announcement. Ackman, who has been a significant shareholder in Howard Hughes since 2010, aims to transform the company into a 'modern-day Berkshire Hathaway.' The deal includes Pershing Square acquiring about 11.8 million shares and Howard Hughes repurchasing $500 million in shares, financed through newly issued bonds. Howard Hughes shares rose 9.4% to $78.50 in pre-market trading following the announcement. Ackman has expressed his intention to keep the current leadership, including CEO David O'Reilly, and employees of Howard Hughes intact, with no changes to the company's long-term strategy after 14 years of investment.
View original story
Similar markets
No • 50%
Yes • 50%
Rejected • 25%
Pending • 25%
Approved without conditions • 25%
Approved with conditions • 25%
No • 50%
Yes • 50%
Merger Delayed • 25%
Successful Completion • 25%
Merger Cancelled • 25%
Other Outcome • 25%
No • 50%
Yes • 50%
Reject proposal • 33%
Request modification • 34%
Approve proposal • 33%
No • 50%
Yes • 50%
Increase by more than 10% • 25%
Increase by less than 10% • 25%
Decrease • 25%
No significant change • 25%
Above $85 • 25%
Between $75 and $85 • 25%
Between $65 and $75 • 25%
Below $65 • 25%