Howard Hughes shares jumped after Bill Ackman's investment firm offered to take a controlling interest in the company.

The deal would increase Pershing Square’s stake in Howard Hughes to somewhere between 61% and 69%, depending on how many investors agree to be bought out, from the 38% it currently holds.

Reprinted From: Science Watch, May 1994 The Howard Hughes Medical Institute, which supports more than 250 investigators and their staffs at 63 United States universities and medical centers, has ...