Bill Ackman, head of hedge fund Pershing Square Capital Management, said he'll announce a transformational deal on Tuesday, akin to Warren Buffett gaining control of Berkshire Hathaway (BRK.B) (BRK.A),

Billionaire Bill Ackman made another offer in an attempt to take more control of Howard Hughes Holding, where his firm is already the largest shareholder.

One contender is Bill Ackman, who founded Pershing Square Capital Management in 2004. Ackman has been a fan of Buffett for many years | Image: Bloomberg Warren Buffett's latest shareholder letter contains the usual folksy mix of wisdom and humour.

Bill Ackman proposes to increase his stake in Howard Hughes to 48%. He wants to turn HHH into a modern-day Berkshire Hathaway.

Bill Ackman's Pershing Square proposed to acquire 10 million newly issued Howard Hughes shares at $90 a share — up from $85 a share.

Among other trades, the hedge-fund manager sells a big-name consumer giant and buys into a real estate company.

Sixty years later, Bill Ackman wants to do something similar — but he’s starting with real estate, not textiles. Ackman’s Pershing Square investment firm has proposed to acquire 10 million new shares of Howard Hughes Holdings (HHH) at $90 each,