BUZZ-Howard Hughes Holdings surges on proposal to merge with unit of Ackman's Pershing Square
ReutersJan 13, 2025 4:18 PM
Updates
** Shares of real estate developer Howard Hughes Holdings HHH.N up 9.1% at $78.29 in morning trading
** Billionaire investor Bill Ackman's Pershing Square PSH.AS, which along with its affiliates, has a 37.6% stake in the company, proposes merger between Howard Hughes and a Pershing unit
** Ackman also says Pershing Square is increasing its stake in Howard Hughes Holdings by $1 billion
** Texas-based HHH has market capitalization of $3.6 billion, according to data compiled by LSEG
** Stock hit a four-month low on Friday, down about 18% from its 2-1/2 year high in November
(Reporting by Medha Singh and Rupali Chaudhary)
((medha.singh@thomsonreuters.com))
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