Updates
** Shares of real estate developer Howard Hughes HHH.N up 10.7% at $79.48 in premarket trading
** Billionaire investor Bill Ackman's Pershing Square PSH.AS, which along with its affiliates, has a 37.6% stake in the company, offers to buy the remaining stake in HHH for $85 per share
** HHH stock up about 15% since Pershing Square Capital Management, already the biggest owner of Howard Hughes, said it was considering taking co private in August
** Texas-based HHH has a market capitalization of $3.6 billion, according to data compiled by LSEG
** Stock hit a four-month low on Friday, down about 18% from its 2-1/2 year high in November
(Reporting by Medha Singh and Rupali Chaudhary)
((medha.singh@thomsonreuters.com))
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