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Herbalife stock surges after Icahn grabs stake

February 15, 2013 • Business


FILE – This file photo combo of file photos shows Bill Ackman, left, of Pershing Square Capital Management, on Feb. 6, 2012, in Toronto, and financier Carl Icahn, on Feb. 7, 2006, in New York. A clash between Wall Street titans is flaring again Friday, Feb. 15, 2013 after Carl Icahn grabbed a 13 percent stake in Herbalife, a supplement company that Pershing Square Capital Management’s William Ackman shorted heavily and very publicly, calling it a massive pyramid scheme. The filing, which was published late Thursday, sent shares of Herbalife soaring more than 20 percent before the opening bell Friday. (AP Photo/Pawel Dwulit, Shiho Fukada, File)

NEW YORK (AP) — Strictly business, nothing personal. That’s how Carl Icahn characterizes the latest turn in his clash with fellow Wall Street titan William Ackman.

Both men have a keen interest in Herbalife, a maker of dietary supplements designed to promote weight loss. Ackman claims the company is a fraud and has bet that its stock price will crumble; Icahn says it’s a great buy.

They can’t both be right, and for now it’s not clear which one is. Icahn, for his part, disclosed in a Login to read more

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