Mon, Sep 1, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Herbalife fights Ackman back

Tuesday, December 10, 2013

Komfie Manalo, Opalesque Asia:

After relentless attacks from activist hedge fund manager William Ackman, Herbalife has turned the table against him and is also calling on investors in his his firm Pershing Square Capital to pull out their money from the $12bn company.

According to a Bloomberg report, Herbalife, a vitamin supplement firm, described Pershing Square as risky and irresponsible.

They presented that Ackman has already lost about $500m this year from his risky bets shorting Herbalife.

John Coffee, professor of securities law at Columbia University in New York, told Bloomberg, "Herbalife and Ackman have been fighting in one theater, and now the warfare has moved into an additional theatre. All’s fair in love and activism," and added that Herbalife has instituted a new tactic applying pressure against an activist investor.

In late November, Ackman said he would renew his attack on Herbalife, almost a year after he shocked Wall Street with a $1bn short bet against the weight-loss company and making it known that he believed Herbalife was a pyramid scheme.

He presented his case a second time with hundreds of PowerPoint slides prepared by a team of analysts at the Robin Hood Investments Conference i......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing
  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Study shows what resonates with investors: 'Unwavering', 'passionate' beats 'committed', 'dedicated' and more surprises[more]

    Komfie Manalo, Opalesque Asia: A new study by Pershing Square, a unit of BNY Mellon company, showed that an effective value proposition strengthens audience connections and fosters growth, yet many advisors have had little objective guidance in formulating such statements until now. In the

  2. Comment – Why you should avoid the hottest hedge fund hands, Swedroe attacks Hussman over risk management, relative value strategy[more]

    Why you should avoid the hottest hedge fund hands FromCNBC/Yahoo.com: Investors who don't have money with Pershing Square Capital Management are likely salivating at the hedge fund's industry-leading 26 percent return from January through July. But investing with Bill Ackman and other to

  3. Hedge fund assets decline in July - eVestment[more]

    Bailey McCann, Opalesque New York: Total assets in hedge funds declined in July and dropped 0.49%, marking the industry's second monthly asset decline in 2014, according to the latest asset flows data from eVestment. Despite the asset decline, total industry AUM remained above the $3 trillion

  4. AIMA makes 'the case for hedge funds'[more]

    Bailey McCann, Opalesque New York: The Alternative Investment Management Association (AIMA), the global hedge fund industry body,

  5. Managed futures' global diversification is important in next phase of economic recovery[more]

    Komfie Manalo, Opalesque Asia: The global diversification provided by managed futures may prove to be extremely valuable as the markets enter the next phase of the economic recovery, said Campbell & Company, a pioneer in absolute return invest