Howard Hughes Holdings, The Woodlands-based real estate development and operating company, on Monday sold 9 million new shares to billionaire investor Bill Ackman's Pershing Square. The $900 million transaction,

Pershing Square agreed to invest $900 million in the company known for master planned communities, Bloomberg reported. Ackman’s firm will acquire 9 million newly issued shares of Howard Hughes for $100 apiece, a 48 percent premium on the stock’s closing price ahead of the weekend.

Bill Ackman has invested $900 million to raise his stake in Howard Hughes Holdings from 37.6% to 46.9%, signaling plans to transform the real estate company into a diversified holding firm. This move aligns with his long-term vision of creating a Berkshire Hathaway-style investment conglomerate.