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Pershing Square, led by Bill Ackman, offers to buy the remaining 62% of Howard Hughes at $85 per share.
Bill Ackman's investment firm, Pershing Square, which owns 38% of real estate company Howard Hughes, has offered to buy the rest of the company for $85 per share.
Ackman expressed dissatisfaction with Howard Hughes' stock performance but praised its management, stating no changes to the company's strategy or staff are planned.
Following the announcement, Howard Hughes' share price rose 11% to $79.67.
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Pershing Square, liderado por Bill Ackman, ofrece comprar el 62% restante de Howard Hughes a $85 por acción.