The record label behind Taylor Swift plans to launch a U.S. offering of some shares owned Bill Ackman’s Pershing Square, as the hedge-fund billionaire pushes for a U.S. listing.

Universal Music Group said on Wednesday that billionaire Bill Ackman-led Pershing Square has exercised its right to request an offering and secondary listing of the record label in the United States.

Howard Hughes Holdings Inc. (NYSE: HHH) has received a $1 billion offer from the firm run by The Woodlands-based developer’s former chairman. Pershing Square Capital Management

Shares of Howard Hughes Holdings jumped after hedge-fund manager Bill Ackman's firm offered to buy 11.8 million Howard Hughes shares at $85 apiece to own a majority stake in the company. The stock jumped about 9.

Pershing Square Capital Management is pushing for a merger after the spinoff of some of Howard Hughes’ other entities.

With close to half of the stocks in the hedge fund ending 2024 in negative territory, Bill Ackman’s Pershing Square Holdings posted a net gain of 10.2 percent in a year when the S&P 500 climbed 23 percent, making it the first time since 2017 that Ackman has failed to beat the broader stock market.

Pershing Square's potential majority stake could influence Howard Hughes' future, but risks remain. See my recommendation on HHH stock.