{"id":10398,"date":"2025-02-19T10:59:11","date_gmt":"2025-02-19T10:59:11","guid":{"rendered":"https:\/\/finderica.com\/?p=10398"},"modified":"2025-02-19T10:59:11","modified_gmt":"2025-02-19T10:59:11","slug":"bill-ackman-raises-bid-for-howard-hughes-says-he-will-turn-it-into-modern-day-berkshire","status":"publish","type":"post","link":"https:\/\/finderica.com\/?p=10398","title":{"rendered":"Bill Ackman raises bid for Howard Hughes, says he will turn it into \u2018modern-day Berkshire\u2019"},"content":{"rendered":"<div id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"><\/span><\/p>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-107422182\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>Bill Ackman, CEO of Pershing Square Capital Management, speaks during an interview for an episode of &#8220;The David Rubenstein Show: Peer-to-Peer Conversations,&#8221; in New York on Nov. 28, 2023.<\/p>\n<p>Jeenah Moon | Bloomberg | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Pershing Square&#8217;s Bill Ackman hiked his takeover offer for <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-2\">Howard Hughes Holdings<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> to create a &#8220;modern-day&#8221; <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-3\">Berkshire Hathaway<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span>.<\/p>\n<p>The billionaire investor said Tuesday that his firm has submitted a proposal to acquire 10 million newly issued Howard Hughes shares at $90 per share. Back in January, Ackman proposed forming a new subsidiary of Pershing to merge with Howard Hughes, offering current holders $85 a share.<\/p>\n<p>If the newly proposed transaction goes through, Pershing Square will own 48% of the real estate developer based in The Woodlands, Texas. The revised transaction does not require regulatory approvals, a shareholder vote or financing, so can be completed in a few weeks.<\/p>\n<p>Shares of Howard Hughes fell nearly 5% in extended trading following the news. The stock had closed up 6.8% at $80.60 in anticipation of the announcement.<\/p>\n<p>Ackman will become chairman and CEO of Howard Hughes if the deal comes to fruition. Pershing Square would receive an annual fee, paid quarterly, of 1.5% of Howard Hughes&#8217; equity market capitalization.<\/p>\n<p>&#8220;We will make available the full resources of Pershing Square to HHH to build a diversified holding company, or one could say, a modern-day Berkshire Hathaway,&#8221; Ackman said in a post on social media site X. &#8220;The new HHH will acquire controlling interests in private and public companies that meet Pershing Square&#8217;s criteria for business quality.&#8221;<\/p>\n<p>Ackman said he took inspiration from the unusual career path of the legendary &#8220;Oracle of Omaha.&#8221; The 94-year-old Warren Buffett started out, essentially, as an activist investor and hedge fund manager running a series of private partnerships, until the 1960s when he closed his partnerships and took control of\u00a0Berkshire Hathaway,\u00a0a struggling textile business.<\/p>\n<p>Today, Berkshire is worth $1 trillion with businesses in industries including insurance, energy, railroad and retail as well as a massive equity portfolio and more than $300 billion in cash.<\/p>\n<p>Ackman said Howard Hughes will continue to develop and own &#8220;master planned communities&#8221; such as The Woodlands in Houston and Summerlin in Las Vegas.<\/p>\n<p>&#8220;Owning small and growing MPCs that will eventually become large cities in the best pro-business markets in the country is a great long-term business,&#8221; he said in the post. &#8220;It&#8217;s a lot better than a dying textile company.&#8221;<\/p>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/www.cnbc.com\/2025\/02\/18\/bill-ackman-raises-bid-for-howard-hughes-says-he-will-turn-it-into-modern-day-berkshire.html\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bill Ackman, CEO of Pershing Square Capital Management, speaks during an interview for an episode of &#8220;The David Rubenstein Show: Peer-to-Peer Conversations,&#8221; in New York on Nov. 28, 2023. Jeenah Moon | Bloomberg | Getty Images Pershing Square&#8217;s Bill Ackman hiked his takeover offer for Howard Hughes Holdings to create a &#8220;modern-day&#8221; Berkshire Hathaway. The<\/p>\n","protected":false},"author":1,"featured_media":10399,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[196],"tags":[4196,1967,1884,856,2640,4197,4198,727,458],"class_list":{"0":"post-10398","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-finance-news","8":"tag-ackman","9":"tag-berkshire","10":"tag-bid","11":"tag-bill","12":"tag-howard","13":"tag-hughes","14":"tag-modernday","15":"tag-raises","16":"tag-turn"},"_links":{"self":[{"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/posts\/10398","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10398"}],"version-history":[{"count":0,"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/posts\/10398\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/media\/10399"}],"wp:attachment":[{"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10398"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10398"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10398"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}