Group 1 - Howard Hughes Holdings Inc. confirmed receipt of a revised acquisition proposal from Pershing Square Capital Management [1][3] - A Special Committee of independent directors was formed in response to Pershing Square's interest in a potential transaction [2] - The Special Committee has not yet engaged in negotiations regarding the proposals from Pershing Square and will evaluate the revised proposal [4] Group 2 - The revised proposal is contingent upon the negotiation and execution of a definitive agreement, as well as approval from the Special Committee and the HHH Board of Directors [5] - There is no requirement for a shareholder vote on the proposed transaction [5] - Morgan Stanley & Co. LLC is serving as the financial advisor to the Special Committee, while Hogan Lovells US LLP and Richards, Layton & Finger, P.A. are providing legal counsel [7] Group 3 - Howard Hughes Holdings Inc. is involved in the ownership, management, and development of commercial, residential, and mixed-use real estate across the U.S. [8] - The company has a portfolio that includes master planned communities and various operating properties, strategically positioned to meet market demand [8]
Howard Hughes Confirms Receipt of Revised Unsolicited Proposal from Pershing Square