Hedge fund manager Bill Ackman told CNBC on Friday he was approached indirectly by Carl Icahn to purchase the billionaire’s stake in Herbalife — Ackman’s longtime short target.
Asked why Icahn would want to sell his stake in Herbalife, Ackman responded: “I think he knows this is toast” and “he’s made bunch of money.”
Bill Ackman: Carl Icahn Looks To Sell Herbalife Because ‘He Knows This Is Toast’
Herbalife is a confidence game: Ackman
It’s interesting the board now knows that Carl Ichan in a seller, says Bill Ackman, Pershing Square Capital, adding that the company is under enormous scrutiny and must change its business.