As you’ve probably heard by now, Bill Ackman gave a little presentation yesterday, on his favorite supplement and diet shakes company, Herbalife. Prior to the event, the Pershing Square founder appeared on CNBC hyping up the thing so hard that he came extremely close to promising video of CEO Michael Johnson threatening to fire employees who refused to snort lethal dosages of Formula 1 Healthy Nutritional Shake Mix (Wild Berry flavor) up their noses. So when the presentation failed to deliver, the disappointment across Wall Street was palpable. Pershing Square investors, however, know a good thing when they see it, and are unfazed. Read more »
Yesterday afternoon, hedge fund manager Bill Ackman made a bold statement. A presentation delivered live in midtown Tuesday morning was to be “the most important” one of his career and at the end of it, we would “learn why Herbalife is going to collapse.” On CNBC, he acknowledged that he was “raising expectations,” but assured the public it would not be disappointed. How’d he do? That all depends on what you were hoping for. If it was a PowerPoint that convinced the market that Herbalife, Ackman’s sworn enemy, was going down for the dirt nap, then technically, the hedge fund manager probably disappointed you a little.
Herbalife Ltd.’s shares jumped as much as 14 percent after hedge-fund manager Bill Ackman struggled to convince investors that the seller of weight-loss shakes is guilty of fraud.
On the other hand, if you were hoping for a presentation filled with passion, courage, feeling, and above all, patriotism, your expectations were met and then some. Read more »
Hedge fund manager Bill Ackman has given many momentous presentations in his day: the unveiling of his Herbalife short, his highly emotional address of Target shareholders, and all matters of MBIA. But believe him when he says such things will absolutely pale in comparison to tomorrow’s event. Forget the thousands of hours he’s already spent publicly lambasting Herbalife’s business practices in the past. THIS is the one you REALLY have to listen to. It will be the final word on diet shakes. Read more »
And that form is a lawsuit which he has to pay lawyers to file. Phone calls, e-mails, letters, telegrams, CNBC appearances, PowerPoint presentations and carrier pigeons with the query, “Will my plan to solicit proxies to oust a majority of your stupid, intransigent board cause me troubles vis-à-vis poison pills?” were allegedly and will be in the future ignored, returned unread or turned over to Allergan’s vaunted R&D operations. Read more »
Allergan, which Bill Ackman would very much like to see become a subsidiary of Valeant Pharmaceutricals, is based in Irvine, Calif. Ed Royce is a congressman who represents a swath of Orange County to Irvine’s north, and who presumably counts a few Allergan employees as constituents, and who will be spending some of Allergan’s money in an effort to be reelected in November.
This same Ed Royce does not think much of Bill Ackman’s plan to take it to the people and ask Allergan shareholders whether they’d like to take the now $49.9 billion Valeant would like to give them for their company, and he’s not afraid to tell Mary Jo White all about it. Read more »
The Botox-maker would like to reiterate that Valeant doesn’t just need a facelift: It needs to be euthanized so that real pharmaceutical companies can make money the old-fashioned way, by repurposing deadly pathogens and marketing them to insecure women. Read more »