Bill Ackman Proposes $900M Deal to Expand Stake in Howard Hughes Holdings

Ackman aims to transform the real estate firm into a diversified holding company modeled after Berkshire Hathaway.

Bill Ackman's Pershing Square has offered $900 million to acquire 10 million newly issued shares of Howard Hughes Holdings at $90 per share, a 12% premium to its recent closing price.
The proposal would increase Pershing Square's stake in the company from 37.6% to 48%, positioning Ackman as chairman and CEO of Howard Hughes Holdings.
Ackman plans to use Howard Hughes as a platform to build a diversified financial conglomerate, drawing inspiration from Warren Buffett's transformation of Berkshire Hathaway.
The deal would allow Howard Hughes Holdings to pursue controlling interests in public and private companies while continuing its focus on large-scale, master-planned communities.
A special committee of independent directors at Howard Hughes Holdings is evaluating the offer, which represents a significant personal financial commitment from Ackman.