January 10, 2018 / 4:29 AM / in 13 days

BRIEF-‍Pershing Square announces management fee reduction related to Allergan settlement​

Jan 9 (Reuters) - Pershing Square Holdings Ltd:

* ‍PERSHING SQUARE HOLDINGS, LTD. ANNOUNCES MANAGEMENT FEE REDUCTION RELATED TO ALLERGAN SETTLEMENT

* ‍SUBSTANTIALLY ALL OF LEGAL FEES RELATED TO ALLERGAN MATTER HAVE BEEN COVERED BY INSURANCE

* ‍ASSUMING SETTLEMENT FINALIZED BY COURT, WILL BE REDUCING MANAGEMENT FEES FOR ALL OF PERSHING SQUARE FUNDS WHICH INCURRED LITIGATION EXPENSE BY TOTAL OF $32.2 MLN

* ‍FEE REDUCTION WILL BE REALIZED IN EIGHT INSTALLMENTS OVER NEXT 8 QUARTERS BEGINNING WITH MANAGEMENT FEE PAYABLE ON APRIL 1, 2018

* ‍REDUCTION IN MANAGEMENT FEES NOT SIMPLY TIMING BENEFIT FOR INVESTORS AS EXISTING YEAR-END 2017 HIGH WATER MARKS WILL REMAIN UNCHANGED​​​ Source text for Eikon: Further company coverage:,,

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below