Ackman Wants to Create a Modern Day Berkshire Hathaway. Why He's No Buffett. - Barron's

1. Ackman's proposal could earn $72 million annually for Pershing Square. 2. Howard Hughes' market cap is $4 billion with recent earnings of $122 million. 3. Ackman's acquisition plan may not secure board approval, raising skepticism. 4. Howard Hughes stock reacted positively initially but later declined. 5. Analysts suggest board may prefer higher share buy-out premiums.