ACKMAN APPROACHED TO BUY ICAHN SHARES
Herbalife, the nutritional supplement company, slipped by 7% in early Friday trading. The company, owned by Carl Icahn, approached hedge fund manager and Herbalife antagonist, Bill Ackman to buy shares of the company. However, Ackman does not believe that Herbalife can succeed without Icahn, calling it a “confidence game”. Previously, Ackman has accused Herbalife and Icahn of running a pyramid scheme. Ackman has bet $1 billion on the failure of Herbalife. However, the Jefferies Group, an investment coalition, has been trying to convince Ackman to buy Icahn’s 18.3% share in the company.