Howard Hughes (HHH) late on Monday said it has again extended the standstill agreement with Pershing Square Capital Management to increase its stake in the real estate developer, this time through April 30.
The companies disclosed their original standstill agreement on March 3, following several weeks of talks about a Pershing Square proposal to increase its equity stake in Howard Hughes by another 10 million shares at $90 each.
At the time, the board panel said the deal was "not acceptable in its current form," although they agreed to continue discussions. The company said Monday it does not plan to make additional statements unless it is appropriate or needed to comply with disclosure requirements.
Prior extensions were disclosed on March 12 and April 7.
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