+

Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Close
HomeQuizzoneWhatsappShare Flash Reads
 

GASPARINO: Dan Loeb Took Some Shots At Bill Ackman At The Biggest Hedge Fund Conference Of The Year

May 10, 2013, 00:20 IST

Fox Business Network's senior correspondent Charlie Gasparino is getting some dirt on the Bill Ackman versus Dan Loeb battle over Herbalife at the SALT conference in Las Vegas.

Advertisement

That's really harsh.

Apparently Loeb didn't name Ackman specifically, but we can all figure out who he was talking about. Also, Loeb's panel at SALT was reportedly off the record.

Back in December, Ackman, who runs $12 billion Pershing Square Capital Management, gave a massive 342-slide presentation slamming Herbalife. Ackman has publicly called the nutrition supplements seller a "pyramid scheme" and has a price target of zero.

Not long after Ackman publicly announced his short, Loeb, who runs Third Point LLC, revealed a big stake in the company. He called Ackman's claims "preposterous."

Advertisement

According to Gasparino's source, Loeb is out of the stock now.

Shares of Herbalife are currently trading above $45. That's well above the pre-Ackman short levels.

Since December 18, the trading session before Ackman's short position was revealed, the stock has climbed more than 2.7%. The stock nose-dived on Ackman's short announcement, but has since rallied back above those pre-short levels.

You are subscribed to notifications!
Looks like you've blocked notifications!
Next Article