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Will the merger between Pershing Square and Howard Hughes Holdings be completed by December 31, 2025?
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Bill Ackman•Pershing Square Capital Management•Howard Hughes Holdings•Pershing Square•Howard Hughes•Ackman
Resolution / Starting Odds
Yes • 50%
No • 50%
Official announcement from Howard Hughes Holdings or Pershing Square
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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No • 50%
Yes • 50%
Approved and completed • 25%
Approved but not completed • 25%
Withdrawn • 25%
Not approved • 25%
Other Outcome • 25%
Successful Completion • 25%
Merger Cancelled • 25%
Merger Delayed • 25%
Yes • 50%
No • 50%
New CEO appointed • 25%
David O'Reilly remains CEO • 25%
No CEO • 25%
Interim CEO appointed • 25%
Request modification • 34%
Approve proposal • 33%
Reject proposal • 33%
Expansion into new markets • 25%
Diversification of portfolio • 25%
No change • 25%
Focus on existing markets • 25%