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Howard Hughes Holdings (NYSE:HHH) rose 6.3% on Wednesday after its biggest holder Pershing Square said it’s considering acquiring all of the shares it doesn’t already own.
Pershing Square, run by billionaire investor Bill Ackman, said late Tuesday it’s evaluating various potential alternatives with respect to its investment in Howard Hughes (HHH) and may acquire all or substantially of all the shares it doesn’t already, according to a 13D filing. Pershing square has a 37.5% stake in HHH.
Jefferies began advising Pershing Square on Tuesday in connection with the evaluation of its options, according to the filing.
Pershing Square said there’s no guarantee that any agreement regarding a transaction can be reached.
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