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Bill Ackman Thinks Carl Icahn Is A Great Investor, Bald-Faced Liar, Person Who Will Never Gain Admittance To The Friends Of Bill Ackman Society

In response to Icahn telling Bloomberg he neither likes nor respects the Pershing Square founder, Bill Ackman got a couple important points of his chest last night, the first being that the feeling’s mutual, the second just a little bit of Wall Street trivia: you can tell Carl Icahn is lying if his lips are moving.

“On March 1, 2003, on behalf of my former fund, Gotham Partners, I entered into a contract with Carl Icahn , signed by him, to sell him a 15% stake in Hallwood Realty Partners. He paid my investors $80 per share and agreed to what he called “schmuck insurance.” The agreement provided that he would pay my investors an earnout equal to 50% of his profit on Hallwood after he received a 10% annual return if he “sold or otherwise transferred” his shares for value within three years. Fewer than 13 months later on April 14, 2004, HRPT Property Trust acquired Hallwood. As a result, Carl and the other Hallwood shareholders received $136.16 per share in cash for their shares.

Under the terms of our agreement, Carl owed my investors about $4.5 million. He refused to pay. I was forced to sue him on behalf of my investors. On September 6, 2005, the court awarded us summary judgment and found the agreement to be “clear and unambiguous.” He again refused to pay and appealed. We won on appeal and Carl was forced to post a bond for what he owed us and appealed again. In general, Carl waited to the last few days to appeal in order to delay the inevitable. After eight years and Carl’s appeals of the judgment were denied, in 2011 the Court forced Carl to pay my investors the $4.5 million they were owed plus 9% interest per year from the date of the sale.

After Carl paid my investors, he called me up, congratulated me on winning, and said that he wanted to be my friend. I told him that I had no interest in being his friend.

Carl Icahn is a great investor, but, in my experience, he does not keep his word.”

Pershing Square Capital Management’s Bill Ackman Responds to Carl Icahn’s Comments on Herbalife [PR Newswire]

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38 Responses to “Bill Ackman Thinks Carl Icahn Is A Great Investor, Bald-Faced Liar, Person Who Will Never Gain Admittance To The Friends Of Bill Ackman Society”

  1. Forehead Slap says:

    Famous corporate raider actually not a nice person.

    • DE Pshaw says:

      Of course, Icahn's move was the first and only time such an event has happened in the history of commerce. Let's not make a big deal of it.

  2. Mr. Frankenberger says:

    The body doesn't fit the head on that picture. Like the polar opposite of Margaret Thatcher in a dress.

  3. Tween investor says:

    #TeamAckman

  4. Im_a_Dude says:

    7:30am post, WTF?

  5. guest says:

    Love that a battle of billionaires has degenerated to a he said / she said about who wanted to be friends with who

  6. Guest says:

    #tears

  7. guest says:

    "Carl Icahn is a great investor, but, in my experience, he does not keep his word.”

    Dear Bill,

    Frankly, we wish you were just a little bit more like him.

    – Your LPs

  8. NakedShorts says:

    Fuck you, fuck you, you're cool, and fuck you. Ackman OUT

  9. ggag says:

    After Carl paid my investors, he called me up, congratulated me on winning, and said that he wanted to be my friend. I told him that I had no interest in being his friend.

    boom

  10. Guest says:

    Read the "tiffs" tag as "tits", very disappointed now.

  11. Carl says:

    Bill,

    I fart in your general direction.

    -Carl

  12. Guest says:

    They should just settle this during Black Bike Week, like real men.

  13. GentlemanTrader says:

    good god bill, stop being such a pussy

    -Carl

  14. Getalife says:

    Both of these idiots are right about each other

  15. Amazing HF Manager says:

    Can I be your friend? Bill? Carl? Anybody?

    -Paulson

  16. Herbalife says:

    Bill Ackman is a bully and a liar.

  17. Guest says:

    Holy shit, is anybody listening to this on CNBC?

    • Deleveraging says:

      Yeah, Carl can't help himself. Carl looks younger in that picture than when I interviewed with him in 1985. That picture they are using per-dates CNBC

    • PermaGuestII says:

      That "whump" you hear is Carl's media relations team throwing themselves off the Empire State Building hand-in-hand.

    • Guest says:

      You'll be hearing from us Mr. Ackman.

      -AARP General Counsel

  18. J. Paulson says:

    So wait, this money earned 9% interest a year? Anyone want to go to court?

  19. The Dude says:

    Ackman is a pussy

  20. David Tan says:

    good thing Ackman had "schmuck" insurance! (for obvious reasons)

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