Articles from Pershing Square Capital Management, L.P.

Pershing Square Capital Management, L.P. (“Pershing Square”) today posted its presentation about Fannie Mae and Freddie Mac and their upcoming release from conservatorship on its website, https://pscmevents.com/FannieFreddiePresentation

Pershing Square Capital Management, L.P. (“Pershing Square”) will host an X Live broadcast on Thursday, January 16, 2025, at 9:00 AM EST. During the broadcast, Pershing Square CEO Bill Ackman and other members of the Investment Team will make a presentation about Fannie Mae and Freddie Mac and their upcoming release from conservatorship.

Pershing Square Capital Management, L.P. (“Pershing Square”) today announced the successful completion of the PSVII funds, which were created as finite-life co-investment vehicles (with a January 31, 2025 end date) to hold shares of Universal Music Group N.V. (“UMG”) in connection with Pershing Square’s initial purchase of shares from Vivendi in September 2021.

Pershing Square Capital Management, L.P. (“PSCM”) today announced the primary sale of a 10% common equity interest in Pershing Square Holdco, L.P. (“Pershing Square”) – a newly formed limited partnership that owns 100% of PSCM – for a purchase price of $1.05 billion to a consortium of strategic investors including Arch Capital Group Ltd. (NASDAQACGL), BTG Pactual (BPAC11), Consulta Limited, ICONIQ Investment Management, Menora Mivtachim Holdings, an international group of family offices, and other investors.

Pershing Square Capital Management, L.P. (“PSCM”) today announced the final results of the cash tender offer (the “Offer”) by Pershing Square, L.P. (“PS”), Pershing Square International, Ltd. (“PS International”) and Pershing Square Holdings, Ltd. (“PSH” and together with PS and PS International, the “Purchasers”) to purchase up to an aggregate of 6,340,000 shares of common stock (each, a “Common Share”) of The Howard Hughes Corporation (NYSEHHC), which expired at 12:00 Midnight, New York City time, at the end of November 28, 2022.

Pershing Square Capital Management, L.P. today announced the preliminary results of the cash tender offer (the “Offer”) by Pershing Square, L.P. (“PS”), Pershing Square International, Ltd. (“PS International”) and Pershing Square Holdings, Ltd. (“PSH” and together with PS and PS International, the “Purchasers”) to purchase up to an aggregate of 6,340,000 shares of common stock, $0.01 par value per share (each, a “Common Share”), of The Howard Hughes Corporation, a Delaware corporation (NYSEHHC) (the “Company”), which expired at 12:00 Midnight, New York City time, at the end of November 28, 2022.

Pershing Square Capital Management, L.P. today announced that Pershing Square, L.P. (“PS”), Pershing Square International, Ltd. (“PS International”) and Pershing Square Holdings, Ltd. (“PSH” and together with PS and PS International, the “Purchasers”) have increased the price range of their previously announced cash tender offer to purchase up to an aggregate of 6,340,000 shares of common stock, $0.01 par value per share (each, a “Common Share”), of The Howard Hughes Corporation, a Delaware corporation (NYSEHHC) (the “Company”), to not greater than $70.00 nor less than $61.00 per Common Share, net to the seller in cash, less any applicable withholding taxes and without interest (as amended, the “Offer”).

Pershing Square Capital Management, L.P. today announced that Pershing Square, L.P. (“PS”), Pershing Square International, Ltd. (“PS International”) and Pershing Square Holdings, Ltd. (“PSH” and together with PS and PS International, the “Purchasers”) have commenced a cash tender offer to purchase up to an aggregate of 6,340,000 shares of common stock, $0.01 par value per share (each, a “Common Share”), of The Howard Hughes Corporation, a Delaware corporation (NYSEHHC) (the “Company”), at a price not greater than $60.00 nor less than $52.25 per Common Share, net to the seller in cash, less any applicable withholding taxes and without interest (the “Offer”). The exact price will be determined through a modified Dutch auction described in the offering materials referred to below. If the Purchasers accept any Common Shares for purchase pursuant to the Offer, PS, PS International and PSH will purchase approximately 7.47%, 2.27% and 90.26%, respectively, of those Common Shares and their purchase obligation will be several in accordance with those percentages and not joint. The Offer is being made on the terms and subject to the conditions set forth in the Offer to Purchase and the Letter of Transmittal, each dated as of October 14, 2022.