Warren Buffett Is Retiring, but Another Billionaire Wants to Create the Next Berkshire Hathaway
Billionaire hedge fund manager Bill Ackman has been attempting to use real estate developer Howard Hughes Holdings (NYSE: HHH) to create a "modern-day Berkshire Hathaway" for some time. Now, it looks like a deal has finally been reached that could allow him to get started.I've previously discussed Ackman's two prior proposals (links in text), but here are the short versions:Ultimately, the board wasn't thrilled with either proposal but wasn't necessarily opposed to Ackman's idea of creating a diversified holding company, so the two parties decided to negotiate.Continue reading
Billionaire hedge fund manager Bill Ackman has been attempting to use real estate developer Howard Hughes Holdings (NYSE: HHH) to create a "modern-day Berkshire Hathaway" for some time. Now, it looks like a deal has finally been reached that could allow him to get started.
I've previously discussed Ackman's two prior proposals (links in text), but here are the short versions:
Ultimately, the board wasn't thrilled with either proposal but wasn't necessarily opposed to Ackman's idea of creating a diversified holding company, so the two parties decided to negotiate.
