Finance
Pershing Square Backs Howard Hughes $2.1 Billion Vantage Bid
Bill Ackman’s Pershing Square agreed to buy non-voting preferred shares issued by Howard Hughes Holdings.
Photographer: Michael Ostuni/Getty ImagesPershing Square Holdings Ltd. said it will invest as much as $1 billion in Howard Hughes Holdings Inc. to back its purchase of specialty insurer Vantage Group Holdings Ltd.
Bill Ackman’s hedge fund agreed to buy non-voting preferred shares issued by Howard Hughes, according to a statement Thursday. Howard Hughes said in a separate statement that it was buying Vantage for about $2.1 billion.