Howard Hughes, Bill Ackman and Vantage Group Holdings
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Bill Ackman has taken a decisive step in his effort to remake Howard Hughes Holdings from a Texas real estate developer into what he has described as a “modern-day Berkshire Hathaway ”, agreeing to buy the Bermuda-based property and casualty insurer Vantage Risk in a $2.1bn deal.
Howard Hughes acquires Vantage to boost returns and cash flow. Vantage will continue to improve underwriting profitability. See more on HHH stock here.
Summerlin’s developer has reeled in its first acquisition since hedge-fund magnate Bill Ackman widened its scope of operations. Howard Hughes Holdings announced Thursday that it reached a deal to acquire insurance firm Vantage Group Holdings for about $2.1 billion.