Howard Hughes Extends Standstill Agreement with Pershing Square
Howard Hughes Holdings (NYSE: HHH) has announced an extension of its standstill agreement with Pershing Square Capital Management. The agreement will now remain effective until April 7, 2025.
The company has stated that there is no guarantee that discussions with Pershing Square will lead to any specific outcome. HHH will refrain from further comments until additional disclosure is deemed necessary or legally required.
Morgan Stanley & Co. is serving as financial advisor to the Special Committee of the Board of Directors, while Hogan Lovells US LLP and Richards, Layton & Finger, P.A. are acting as legal counsel.
Howard Hughes Holdings (NYSE: HHH) ha annunciato un'estensione del suo accordo di standstill con Pershing Square Capital Management. L'accordo rimarrà valido fino al 7 aprile 2025.
La società ha dichiarato che non ci sono garanzie che le discussioni con Pershing Square portino a un risultato specifico. HHH si asterrà da ulteriori commenti fino a quando non sarà ritenuto necessario o legalmente richiesto un ulteriore disclosure.
Morgan Stanley & Co. funge da consulente finanziario per il Comitato Speciale del Consiglio di Amministrazione, mentre Hogan Lovells US LLP e Richards, Layton & Finger, P.A. agiscono come consulenti legali.
Howard Hughes Holdings (NYSE: HHH) ha anunciado una extensión de su acuerdo de standstill con Pershing Square Capital Management. El acuerdo seguirá vigente hasta el 7 de abril de 2025.
La empresa ha declarado que no hay garantía de que las discusiones con Pershing Square conduzcan a un resultado específico. HHH se abstendrá de hacer más comentarios hasta que se considere necesario o legalmente requerido un nuevo disclosure.
Morgan Stanley & Co. actúa como asesor financiero del Comité Especial de la Junta Directiva, mientras que Hogan Lovells US LLP y Richards, Layton & Finger, P.A. están actuando como asesores legales.
하워드 휴즈 홀딩스 (NYSE: HHH)는 퍼싱 스퀘어 캐피탈 매니지먼트와의 스탠드스틸 협정 연장을 발표했습니다. 이 협정은 2025년 4월 7일까지 유효합니다.
회사는 퍼싱 스퀘어와의 논의가 특정한 결과로 이어질 것이라는 보장이 없다고 밝혔습니다. HHH는 추가 공시가 필요하거나 법적으로 요구될 때까지 추가 댓글을 자제할 것입니다.
모건 스탠리 & 코.는 이사회 특별위원회의 재무 자문 역할을 하고 있으며, 호건 로벨스 US LLP와 리차드스, 레이튼 & 핑거, P.A.는 법률 자문 역할을 하고 있습니다.
Howard Hughes Holdings (NYSE: HHH) a annoncé une prolongation de son accord de standstill avec Pershing Square Capital Management. L'accord restera en vigueur jusqu'au 7 avril 2025.
L'entreprise a déclaré qu'il n'y a aucune garantie que les discussions avec Pershing Square aboutissent à un résultat spécifique. HHH s'abstiendra de tout commentaire supplémentaire jusqu'à ce qu'une divulgation supplémentaire soit jugée nécessaire ou légalement requise.
Morgan Stanley & Co. agit en tant que conseiller financier pour le Comité Spécial du Conseil d'Administration, tandis que Hogan Lovells US LLP et Richards, Layton & Finger, P.A. agissent en tant que conseillers juridiques.
Howard Hughes Holdings (NYSE: HHH) hat eine Verlängerung seiner Standstill-Vereinbarung mit Pershing Square Capital Management angekündigt. Die Vereinbarung bleibt bis zum 7. April 2025 in Kraft.
Das Unternehmen hat erklärt, dass es keine Garantie dafür gibt, dass die Gespräche mit Pershing Square zu einem bestimmten Ergebnis führen werden. HHH wird von weiteren Kommentaren absehen, bis zusätzliche Offenlegungen als notwendig oder gesetzlich erforderlich erachtet werden.
Morgan Stanley & Co. fungiert als Finanzberater für den Sonderausschuss des Vorstands, während Hogan Lovells US LLP und Richards, Layton & Finger, P.A. als rechtliche Berater tätig sind.
- None.
- None.
THE WOODLANDS, Texas, March 12, 2025 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE: HHH) (the “Company” or “HHH”) today announced an extension to the previously announced standstill agreement with Pershing Square Capital Management L.P. (“Pershing Square”). The standstill agreement will now remain in effect until April 7, 2025, unless further extended.
There can be no assurance that discussions with Pershing Square 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.
Morgan Stanley & Co. LLC is acting as financial advisor to the Special Committee of the Board of Directors, and Hogan Lovells US LLP and Richards, Layton & Finger, P.A. are acting as legal counsel.
About Howard Hughes Holdings Inc.
Howard Hughes Holdings Inc. owns, manages, and develops commercial, residential, and mixed-use real estate throughout the U.S. Its award-winning assets include the country’s preeminent portfolio of master planned communities, as well as operating properties and development opportunities including Downtown Columbia® in Maryland; The Woodlands®, Bridgeland® and The Woodlands Hills® in the Greater Houston, Texas area; Summerlin® in Las Vegas; Ward Village® in Honolulu, Hawaiʻi; and Teravalis™ in the Greater Phoenix, Arizona area. The Howard Hughes portfolio is strategically positioned to meet and accelerate development based on market demand, resulting in one of the strongest real estate platforms in the country. Dedicated to innovative placemaking, the company is recognized for its ongoing commitment to design excellence and to the cultural life of its communities. Howard Hughes Holdings Inc. is traded on the New York Stock Exchange as HHH. For additional information visit www.howardhughes.com.
Safe Harbor Statement
Statements made in this press release that are not historical facts, including statements accompanied by words such as “will,” “believe,” “expect,” “enables,” “realize,” “plan,” “intend,” “assume,” “transform” and other words of similar expression, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s expectations, estimates, assumptions, and projections as of the date of this release and are not guarantees of future performance. Actual results may differ materially from those expressed or implied in these statements. Factors that could cause actual results to differ materially are set forth as risk factors in Howard Hughes Holdings Inc.’s filings with the Securities and Exchange Commission, including its Quarterly and Annual Reports. Howard Hughes Holdings Inc. cautions you not to place undue reliance on the forward-looking statements contained in this release. Howard Hughes Holdings Inc. does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this release.
Contacts:
Media Relations
Andrew Siegel / Lyle Weston
Joele Frank
212-355-4449
Investor Relations
Eric Holcomb, 281-475-2144
Senior Vice President, Investor Relations
eric.holcomb@howardhughes.com
FAQ
What is the new expiration date for HHH's standstill agreement with Pershing Square?
Who are the financial and legal advisors for Howard Hughes Holdings (HHH) in the Pershing Square negotiations?
What is the current status of discussions between HHH and Pershing Square Capital Management?
When will Howard Hughes Holdings (HHH) provide updates on the Pershing Square negotiations?
