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Howard Hughes Special Committee Provides Update on Engagement with Pershing Square
THE WOODLANDS, Texas, March 03, 2025 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE: HHH) (the “Company” or “HHH”) announced that the Special Committee of its Board of Directors (the “Special Committee”) responded to Pershing Square Capital Management L.P. (“Pershing Square”) indicating that the proposal received on February 13, 2025 (the “Revised Proposal”) is not acceptable in its current form. The Special Committee also announced that it has entered into a standstill agreement with Per
About this update from Howard Hughes Holdings Inc.
[{"type":"image","alt":"Howard Hughes Holdings Inc.","displaySize":"","headline":null,"caption":"Howard Hughes Holdings Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":52,"url":"https://media.zenfs.com/en/globenewswire.com/a19eeb56e94a0a8faa84dc0763e2dd87"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/ND0ZAezTFKrqDuBexxDDHQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTczO2NmPXdlYnA-/https://media.zenfs.com/en/globenewswire.com/a19eeb56e94a0a8faa84dc0763e2dd87","width":300,"height":52}},"lazy":false},{"type":"text","content":"THE WOODLANDS, Texas, March 03, 2025 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE: HHH) (the “Company” or “HHH”) announced that the Special Committee of its Board of Directors (the “Special Committee”) responded to Pershing Square Capital Management L.P. (“Pershing Square”) indicating that the proposal received on February 13, 2025 (the “Revised Proposal”) is not acceptable in its current form. The Special Committee also announced that it has entered into a standstill agreement with Pershing Square to facilitate further discussions to explore potential alternatives. The standstill agreement will remain in effect until March 13, 2025, unless otherwise extended.","length":677,"tagName":"p"},{"type":"text","content":"There can be no assurance that the foregoing will result in any particular outcome, and HHH does not intend to comment further on these matters until HHH determines that additional disclosure is appropriate or required by law. The Board and the Special Committee remain committed to acting in the best interests of HHH and its stockholders.","length":340,"tagName":"p"},{"type":"text","content":"The Revised Proposal materials are included in the Schedule 13D/A filed by Pershing Square, which is publicly available with the U.S. Securities and Exchange Commission and can be found here.","length":191,"tagName":"p"},{"type":"text","content":"Morgan Stanley & Co. LLC is acting as financial advisor to the Special Committee, and Hogan Lovells US LLP and Richards, Layton & Finger, P.A. are acting as legal counsel.","length":179,"tagName":"p"},{"type":"text","content":"About Howard Hughes Holdings Inc.","length":33,"tagName":"p"},{"type":"text","content":"Howard Hughes Holdings Inc. owns, manages, and develops commercial, residential, and mixed-use real estate throughout the U.S. ...