Pershing Square Acquires Howard Hughes
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Howard Hughes HoldingsCNBC
•Business
Business & Economics
Bill Ackman's Pershing Square offers to take over real estate developer Howard Hughes for $85 a share

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Pershing Square is offering to take over the rest of Howard Hughes Holdings that the investment firm does not own.
Ackman proposed forming a new subsidiary of Pershing that would merge with the real estate developer.
Howard Hughes shares jumped 11% to $ 79.67 a share in premarket trading.