Howard Hughes Holdings (NYSE:HHH) said on Monday it received a proposal from Bill Ackman's Pershing Square Capital Management (OTCPK:PSHZF) for the acquisition of additional Howard Hughes shares that would give Pershing Square a majority of its common stock.

Bill Ackman's Pershing Square is offering to take over the rest of Howard Hughes Holdings that the investment firm does not own for $85 a share."While we are pleased with the substantial business progress Howard Hughes Holdings has made over the more than 14 years since it went public,

Pershing Square Capital Management LP has proposed a deal to merge one of its subsidiaries with real estate company Howard Hughes Holdings Inc., according to a letter to investors.

Pershing Square's potential majority stake could influence Howard Hughes' future, but risks remain. See my recommendation on HHH stock.

Shares of Howard Hughes Holdings jumped after hedge-fund manager Bill Ackman's firm offered to buy 11.8 million Howard Hughes shares at $85 apiece to own a majority stake in the company. The stock jumped about 9.

Howard Hughes Holdings Inc. (NYSE: HHH) has received a $1 billion offer from the firm run by The Woodlands-based developer’s former chairman. Pershing Square Capital Management

Pershing Square Capital Management LP propuso un acuerdo para fusionar una filial recientemente creada con Howard Hughes Holdings Inc, en el paso más reciente del intento de Ackman por adquirir el promotor inmobiliario que solía ayudar a dirigir.

Pershing Square Capital Management is pushing for a merger after the spinoff of some of Howard Hughes’ other entities.

Howard Hughes (HHH) was up 11.3% in premarket trade after billionaire hedge fund manager, Bill Ackman, through Pershing Square issued a proposal that would increase its holdings in HHH.

Universal Music Group said on Wednesday that billionaire Bill Ackman-led Pershing Square has exercised its right to request an offering and secondary listing of the record label in the United States.