Friday, 27 November 2015
Last updated 1 day ago
Feb 15 2013 | 3:03am ET
During their now-legendary verbal fisticuffs on CNBC last month, Pershing Square Capital Management's William Ackman suggested that Carl Icahn make a tender offer for Herbalife, which the former has called a pyramid scheme.
Yesterday, Icahn suggested that he just might.
Icahn said that he has amassed a 13% stake in the nutritional supplements company, all of it after Ackman delivered his initial attack on the company last month. Indeed, Icahn boosted his stake after his joint interview with Ackman on CNBC Jan. 24, during which he angrily refused to disclose whether he had taken a position in the company.
Icahn's stake in Herbalife, which was down 10% from when Ackman announced he was shorting it, prior to Icahn's disclosure after the closing bell, is even larger than Daniel Loeb's Third Point, which announced its long position last month.
Icahn, who has engaged in a decade-long feud with Ackman, said he would speak with Herbalife about strategic alternatives for the company. Those alternatives include taking the company private.
Ackman has said that he doesn't believe that Herbalife can be sold.
Icahn, however, begs to differ, writing in the filing that Herbalife "has a legitimate business model, with favorable long-term opportunities for growth."
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…