Howard Hughes surges after Ackman's Pershing Square ups stake in $900 million deal
ReutersMay 5, 2025 11:19 AM
Shares of real estate developer Howard Hughes Holdings HHH.N soar around 13% to $75.99 in premarket trading
Billionaire investor Bill Ackman's Pershing Square to buy 9 million newly issued shares in HHH for $900 million
Post transaction, Pershing Square will own 46.9% of HHH's outstanding shares
Ackman named executive chairman of Howard Hughes; HHH CEO David O’Reilly to continue in the role
Stock down ~12% this year, as of last close
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