BRIEF-Pershing Square Announces Revised Proposal To Howard Hughes Holdings

Reuters

02-19

BRIEF-Pershing Square Announces Revised Proposal To Howard Hughes Holdings

Feb 18 (Reuters) - Pershing Square:

PERSHING SQUARE ANNOUNCES REVISED PROPOSAL TO HOWARD HUGHES HOLDINGS
PERSHING SQUARE: IN NEW PROPOSAL OWNERSHIP WOULD INCREASE FROM 37.6% TO 48% OF SHARES
PERSHING SQUARE: BILL ACKMAN WOULD BECOME CHAIRMAN AND CEO OF HHH
PERSHING SQUARE: PROPOSES TO PAY $90 PER SHARE TO ACQUIRE 10,000,000 NEWLY ISSUED SHARES OF HHH
PERSHING SQUARE: WILL FUND ITS $900 MILLION INVESTMENT FROM CASH ON ITS BALANCE SHEET
PERSHING SQUARE: BEN HAKIM WOULD BECOME PRESIDENT OF HHH

Source text: [ID:]

Further company coverage: []

((Reuters.Briefs@thomsonreuters.com;))

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