The details came out Thursday, when Icahn disclosed a 12.98% stake in Herbalife, a holding of just over 14 million shares (including shares underlying call options).
With Icahn now in play, billionaire hedge fund managers control more than 20% of Herbalife’s shares; Daniel Loeb‘s Third Point revealed an 8.24% stake January 9. (See “Loeb Calls Ackman’s Short Thesis ‘Preposterous’”)
The stock popped more than 20% in after-hours trading to $46.09, setting the stage for further pressure on short sellers Friday.
No one knows what he payed. He probably was shorting it in the 70s though. These other hedge fund guys all hate him, so they are ganging up on him in a war of billionaires. Meanwhile, HLF is still under investigation, and no result has been given.