Dueling billionaire investors Carl Icahn and William Ackman, who have gone toe-to-toe in a battle over the legitimacy of Herbalife Ltd., were silent Wednesday as the nutritional-supplements maker held a conference call to discuss its better-than-expected fourth-quarter earnings. Mr. Ackman has bet against the company’s shares, setting up a more than $1 billion short position accompanied by a high-profile campaign questioning Herbalife’s business and calling its distribution model a “pyramid scheme.” Mr. Icahn, meanwhile, has taken a 13% stake in the company and said he intends to discuss potential strategic alternatives with the company, which he insists has significant growth potential. The battle has played out in the public eye, notably when the two men sparred last month in a televised war of words on business news network CNBC…Neither Mr. Ackman nor Mr. Icahn spoke on the call. A spokeswoman for Mr. Ackman’s firm declined to immediately comment on the matter. A spokeswoman for Mr. Icahn said he was unavailable to comment. [WSJ, related, related]
a day that will live in infamy
- 20 Feb 2013 at 1:46 PM
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