Lehman Brothers Financial SA (LEHNQ)

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Ackman’s steps to quick action on Fannie Mae, Freddie Mac
Ackman stated that an IPO for Fannie Mae and Freddie Mac would require significant time and careful execution.
He emphasized that gaining support from market participants is a critical part of the process.
He suggested that Trump could accelerate the timeline by restoring trading of the two enterprises on the New York Stock Exchange.
He proposed that the Treasury exercise its 79.9% warrants in both companies.
He also recommended accounting for repayment of the senior preferred stock.
When the government placed the companies in conservatorship in 2008, it received senior preferred shares and warrants to purchase up to 79.9% of their common stock.
Ackman argued that a NYSE listing would enable institutional investors to establish positions in Fannie Mae and Freddie Mac.
He noted that relisting would create favorable conditions for future secondary sales by the Treasury.
He indicated that relisting would help President Trump meet his stated November 2025 timeline.

https://www.thestreet.com/real-estate/bill-ackman-sends-strong-message-on-fannie-mae-freddie-mac