Bill Ackman Follows Warren Buffett: Hedge Funder Promises 'Modern Day Berkshire Hathaway' With Latest Transaction (CORRECTED)
1. Bill Ackman proposes new buyout for Howard Hughes, aims for diversified holding company. 2. Ackman increases share bid from $85 to $90, seeks 48% ownership. 3. Proposal likens Howard Hughes to Berkshire Hathaway's investment philosophy. 4. Ackman plans to invest in public and private companies for long-term growth. 5. Howard Hughes stock fluctuates following announcement; currently trading lower.