A luxurious Miami estate with roots in the legendary Howard Hughes's land holdings has been listed for $55.5 million. The property, built in 2003, is on land once owned by the eccentric billionaire, who amassed a vast real estate portfolio across the

Shares of Howard Hughes Holdings jumped after hedge-fund manager Bill Ackman's firm offered to buy 11.8 million Howard Hughes shares at $85 apiece to own a majority stake in the company. The stock jumped about 9.

Pershing Square's potential majority stake could influence Howard Hughes' future, but risks remain. See my recommendation on HHH stock.

Pershing Square Capital Management LP has proposed a deal to merge one of its subsidiaries with real estate company Howard Hughes Holdings Inc., according to a letter to investors.

Pershing Square Capital Management is pushing for a merger after the spinoff of some of Howard Hughes’ other entities.