The Barolo Imbroglio: A Carl Icahn-Bill Ackman Story

Finance's favorite catfighting frenemies are back!
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(Luciano Sandrone)

(Luciano Sandrone)

Carl Icahn saunters down Central Park South, makes a left into 240 and strides to his customary table. Things could hardly be going better for him, the newly-appointed presidential adviser on burning and shredding financial regulations. And while he of course loves Marea’s seafood, he’s looking for something a little more substantial tonight. Something he can really sink his teeth into.

“The sirloin. Rare,” he tells his waiter. “And a bottle of the ’98 Le Vigne Barolo.”

The waiter freezes in terror. He knows Icahn is on the “never refuse” list, but he also knows this is a request he cannot fill. “I’m sorry, Mr. Icahn,” he manages. He discreetly gestures towards a party on the opposite side of the dining room, and quietly says, “That gentleman just ordered our last bottle. Might I suggest the 2000? It’s actually quite….”

Icahn isn’t listening anymore. He turns towards the table enjoying the ’98, and sees that hated shock of silver hair rising over the chair. Without realizing what he’s done, Bill Ackman turns and raises his glass—his glass of the 1998 Luciano Sandrone Le Vigne Barolo—in Icahn’s direction.

Icahn trembles with fury. He lifts his phone from the table. “Buy as much as you can,” he barks. “Don’t question me, Brett. You know why. Just do it.”

Carl Icahn, who has sparred with rival billionaire William Ackman over the company's future and has long been Herbalife's biggest owner, raised his stake during the fourth quarter. He now owns 22.5 million shares, marking a 14 percent increase from the end of the third quarter, according to a regulatory filing.

Herbalife investor Stiritz cuts holding; Icahn lifts his: filing [Reuters]
A Victory for Trump Is a Victory for Big-Name Traders [DealBook]

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