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Stock impact report

Howard Hughes Holdings Inc. (HHH) Pursues Diversification and Long-Term Growth [Yahoo! Finance]

Howard Hughes Holdings Inc. (HHH) 
Company Research Source: Yahoo! Finance
The $2.1 billion acquisition is part of the real estate firm's bid to diversify its footprint beyond property development. Additionally, the deal is expected to transform Howard Hughes Holdings into a diversified holding company akin to Berkshire Hathaway, as Vantage boasts a diversified portfolio of property and casualty products. The company is to fund the acquisition with cash and up to a $1 billion loan from Bill Ackman's hedge fund, Pershing Square. In return, it could buy back the stock from Pershing Square over seven years at a premium based on Vantage's book value. The acquisition comes as the company increasingly buys controlling stakes in smaller businesses in other sectors as part of a diversification strategy. “We're following a playbook that worked for Berkshire Hathaway – starting with a core business and adding insurance to create a platform for long-term capital compounding,” said executive chair Ackman in a statement. Howard Hughes Holdings Inc. (NYSE:HHH) deve Show less Read more
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