Mon, Dec 22, 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. Investing - Big hedge funds win again on PetSmart, Riverbed, RBS sells real estate loans to hedge fund Cerberus, Talisman energy speculation: Which hedge funds could benefit?[more]

    Big hedge funds win again on PetSmart, Riverbed From CNBC.com: Another week, another set of wins for activist investors. On Sunday, pet supply retailer PetSmart agreed to the largest leveraged buyout of the year at $8.7 billion. Hedge fund firm JANA Partners had been pushing for a sale a

  2. Outlook - Hedge fund manager who remembers 1998 rout says prepare for pain, Bond guru Bill Gross predicts U.S. economic growth to dip to 2%[more]

    Hedge fund manager who remembers 1998 rout says prepare for pain From Bloomberg.com: Stephen Jen landed in Hong Kong in early January 1997 as Morgan Stanley’s newly minted exchange-rate strategist for Asia. He was soon working around the clock when investors began targeting the region’s

  3. Investing - Hedge funds get boost from healthcare in 2014, Paulson & Co takes stake in Salix on heels of inventory issues[more]

    Hedge funds get boost from healthcare in 2014 From Valuewalk.com: The healthcare sector started the year on a turbulent note, as stocks of many major biotechnology companies were battered. However, most of the players in this sector have bounced back. The BarclayHedge Healthcare & Biotec

  4. Opalesque Exclusive: U.S. legal receivables fund launched in August[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Investing in asset-backed receivables is a strategy that has been an integral part of the alternative investment space within the overall fixed income asset c

  5. Comment - High fees and low performance hit hedge funds[more]

    From FT.com: Disenchantment over high fees and lackluster performance may finally be turning the tide against hedge funds, fresh data suggest. Despite generally weak returns since the global financial crisis, hedge funds have enjoyed positive net inflows every year since 2010. This helped assets und