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Stock impact report

Pershing Square Holdings, Ltd. Announces Investment in Howard Hughes Holdings Inc. Preferred Stock

Howard Hughes Holdings Inc. (HHH) 
Company Research Source: Business Wire
LONDON--(BUSINESS WIRE)--Pershing Square Holdings, Ltd. (LN:PSH) (LN:PSHD) (“PSH”) today announces that it has entered into an equity commitment letter to subscribe for up to $1 billion of non-voting exchangeable perpetual preferred stock to be issued by Howard Hughes Holdings Inc. (NYSE: HHH) (“HHH”) (the “PSH Preferred”) (the “PSH Investment”) in connection with HHH's agreement to indirectly acquire Vantage Group Holdings, Ltd. (“Vantage”), a privately held specialty insurance and reinsurance company being sold by, among others, Carlyle and Hellman & Friedman, for approximately $2.1 billion in cash. HHH's announcement of its agreement to acquire Vantage is available here https://investor.howardhughes.com/news-events/news-releases.The board of directors of PSH (the “PSH Board”) note the views of HHH's management in relation to the Vantage acquisition and believe that it offers attractive prospects for HHH and, accordingly, for PSH, HHH’s largest shareholder, and its shareholders. Show less Read more
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