...Herbalife declined to comment on Stiritz’s remarks. A representative of Icahn declined to comment. Michael Vachon, a spokesman for New York-based Soros Fund Management LLC, which owns 5 percent of Herbalife, declined to comment.
Herbalife President Des Walsh said on Feb. 27 that the company would “certainly” consider going private in a buyout “in the right circumstance.” In leveraged buyouts, purchasers typically use a company’s cash flow and assets, as well as their own, as collateral for loans to take a controlling interest.
The company also said last month it would re-evaluate its share buyback plans when PricewaterhouseCoopers LP finishes new audits of the company’s statements for 2010 through 2012.
Bill Stiritz, the fourth-largest shareholder in Herbalife (HLF) Ltd., said he’s willing to take part in a leveraged buyout of the company that would reward shareholders and help it fend off pyramid-scheme allegations.
Taking the nutrition company private was an option billionaire investor Carl Icahn said he would discuss with Herbalife’s management when he took a stake in the company earlier this year. Stiritz, who holds 5.3 percent of Herbalife, declined to say in an interview whether he’s in talks with Icahn, whose 17 percent stake makes him its largest investor.
Herbalife Ltd., which makes vitamins, skin creams and meal-replacement shakes and operates in more than 80 countries, hired PricewaterhouseCoopers in May after KPMG LLP resigned as its accounting firm because of alleged insider trading by an auditor. Photographer: Scott Eells/Bloomberg
“The situation is pregnant for a recap or leveraged buyout of Herbalife, and I would be willing to participate,” Stiritz, who’s also chief executive officer of cereal maker Post Holdings Inc. (POST), said in the telephone interview.
The shares increased 3.1 percent to $64.64 at the close in New York.
A leveraged buyout would reduce public scrutiny for Cayman Islands-based Herbalife while the company defends itself against billionaire hedge fund manager Bill Ackman, who for a year has accused it of operating an illegal pyramid scheme. Ackman has reduced his equity short position in the company while maintaining his bet through options. He continues to try to convince regulators to shut Herbalife down.
“The company under normal conditions would be worth double what it’s selling for today,” Stiritz said.
Loeb's idea is that activism ought to be intended to push companies to be more shareholder value oriented. Loeb wouldn;t be one to do Ackman's gone awry brand of short a stock, then make up bs allegations that everyone else studying the same material refutes, then do a 300 slide presentations and big bs report, then keep on foaming at the mouth like a rabid dog about it for months while wasting away your investors' capital, then wave your arms around yelling "wolf" one thousand times while turning purple in the face because no one else agrees with one's bs and then keep on wasting your investors' money while trying to frighten employees and customers and regulators and politicians by saying things more stupid and less convincing than, "HLF is a pumpkin that is going to turn into an Alien Spaceship, why won't all you effers listen to me? Do I have to cry more or hold my breath until I turn purple or what?"
Meanwhile, he has likely used some of what he thinks of as his genius to fully hedge his position -- while doing nothing close to telling the lemmings following him over the cliff what his net position is these days.
When does the SEC start investigating these antics and timing and composition of his "awry activism."
Obviously Loeb made over $200m refuting Ackman's HLF is a pyramid pumpkin posing as an Alien Spaceship bs.
As for the alleged fraudulent pyramid scheme, you gotta love Loeb's quote on CNBC," “It was my assessment that the accusation was unfounded,” he said of Ackman’s claims."
p.s. Would someone cut and past this every time swampi texcerement tunofshite imhummeria posts dog S on this board? I don't see any of those F headed posts unless it is a reply to one of the legit posters comments here.
for those who missed it.
By the way, tuboshite must be referring to our gmcr call from 18 to 88, or our call last week on IEP from $108 to $120, or TPX from $25 to $42 or reload from 38 to 43, or reload of aapl at 389 (still long), or LVS (pulled short hedge at 38 to 62 -- too early but out on Spain news) or MPEL from 12 to 36 now out of half (and box hedged to $36 on the rest), or the DAL double or ALK at $45 or UAL at 28 (after being paired short on it all year vs DAL and ALK)... or maybe he meant DNKN from 25 to 42 and then reload at 38, or maybe BAC at 6 and GS at 89, or maybe he's just wetting his pants over our core long here at $38 and to or so flip trades here including our biuggest ever trading sleeve where we added all the way down to $62 last week, you know, down below where Stiritz put on over 5% and where Soros put on his 5% and where the company repurchased 1.7% of outstanding shares last Q,
If you missed it, see my post explaining how when tubofshiteswampitexcrement suggested the company's outstanding shares increasing was somehow lying merely illustrates how unsophisticated and ignorant he is... but then he is a #$%$ working for $3/day and 3 cents.post. LOL
i see where the imhummeria doosh alias keeps on saying that Carl wants out at $73 based on the original lockup out to February. No, he does not, anymore than he wanted out of NFLX after the first of several doubles.
Apparently he missed Uncle Carl's update in early November. Carl said right there on TV for everyone to learn his current thinking, that as is the case with Stiritz who has referenced owning HLF for several doubles (said with the stock at $72) , Uncle Carl HLF is the kind of story he thinks has 10-15 years to run based on the business plan opportunity and the stock being so "significantly undervalued."
But imhummeria thinks it "is impossible to squeeze the stock [sic -- LOL] now that Ackman has completed his 'restructuring'" (LOL), a comment kinda like Ackman's own "this is a pyramid scheme and fraud"... the similarity? These putzes apparently think people reading their nonsense are stupid enough to sell stock based upon such bs.
LOL If you call a pumpkin an "Alien Spaceship" 700 times does the pumkin become an "Alien spaceship?"
And if one does a weak sauce analysis and dopey slide show with 300 slides and pays two dufus bashers $100 a month to write at least 1000 stupid posts per week under 4 aliases apiece, does that make a quality consumer products company's balance sheet and ebitda a pyramid scheme? LOL at these gumptards...
to the top again -- see you all at $75 agaon soon, perhaps as early as Monday
Here a post of relevance.
Ackman's #$%$ putz is working overtime to keep relevant posts off the front page... notice how that has picked up now that the run back to $75 is underway?
Gee, maybe it is billy himself trying to save some of that 2% feesince his incentive fee is a bag of poo just like his investors' return this year. LOL
UAL's execution is lousy vs DALs, but as the group garners some respect, UAL has really needed to play some catch up, especially since it is way ahead of LCC! And now we have the LCC transaction benefits inuring to DAL and UAL, on top of UAL's mgmt acknowledging that they need to do better than weak sauce on execution and cost containment.
The shares are up 3% since my post and in a flat market scenario are going higher by EOY. $40 a good target.
Thanks for #$%$ down the nape of the necks of these stupid f #$%$ trading club morons who has maybe $1500 of equity in their margin accounts and hope Ackman keeps paying them for the worst postings ever seen on YHOO.
It is a source of constant laughs to see you stomp them without even trying, especially tibofbobshite, swampidoosh, imhummeria, texcrement and his other stupid ash "sand up his vaghhina" aliases. My first two pages have nothing but your posts -- all else is on ignore. LOL
Greg needs no help kicking you stupid F'er #$%$s in the facre, but he flushed more intellect after his last bowel movement than you have in all of your numb effer aliases put together. I can't believe Ackman is so F stupid as to pay you #$%$ f heads to post such dog S all day, even on weekends.
We can all see how much you S heads with sand all up in your vaghhhinas are worth as the stock has run from below $30 to $70 and is now READY TO RIP THE HEADS OFF THE STUPID F SHORTS wITH ANY CAPITAL LEFT.
See you ashwipes at $75 next week and $90 by EOY (faster and higher if they get the leveraged buyback ready to go with PWC news). LOL
I know this tubofshiteunderstands nothing and is here to do nothing other than divert attention, but i'll join you stomping on his tiny head for a moment since he has said this pivot dog S at least 10 times.
This putz toboshite swampi texcement calling greg a douche is like obama calling the Affordable Healthcare Act "legislation loved by all." There is no bigger douche than that moron on this board -- not once anything worth considering; never correct on any point made.
As for my commentary on the pivot? It is of course just a fact.
We've explained that we view charts as useful but not the end all for entrance and exit breakouts and tops, and while many well established chart patterns often prove useful, others do not.
In this case, the 4 weeks tight was followed by a move higher, and then with Obama leading the idiots in DC we saw a full week swoon on many if not most beta names and what was obviously a full shake out of all the momo longs that carried on a couple more weeks before resolving to volume pickup on the right side of the now apparent short base. As we posted along, we added trade sleeve shares all the way down to $62 and the turnaround is not surprising in that the recent low pressed into levels Stiritz, Soros and the company have been buying. That leaves just real players still in the stock, and the shares READY TO RIP HIGHER. LOL
We also note the weekly chart reveals the significance of blowing past $70, as greg said, easy with news coming, then past resistance at $73, and the pivot just above that. We still think the stock gets to $90 by EOY with the PWC recertified financials and leveraged buyback announced or the buzzing LBO possibility.
What dey gonna do bout it? Do sometin about it Uncle Carl.
Stock ready to RIP higher Monday with the PWC news? LOL
Ackman is hosed with his dumb effer hedges.
The pantswetter short chumps posting here don't actually have a margin account or any money to bet with Ackman. They are just gumptarded putzes. LOL
As we've said since March, Bill has likely hedged alot of his stupid assh short and now putz put transaction with long shares (between 13F dates) and call options (which are not reported on 13F) and he likely hedged out his dumb assh long on JCP too between dates -- that would certainly explain why his fund's performance has only suked vs reporting huge losses this year on these really lame stockpicking butches he has made lots of noise about.
But all of that is expensive, and so are the dividends he pays longs on borrowed shares and the stock loans. And so are the opportunity costs(e.g., going long at $38 when we did vs stubbornly, egotistically remaining lame assh short). The time element of his puts is ticking off, same on his hedge calls.
Keep twisting the knife enema team, Bill has begged for the abuse. And they have yet to come with the LBO or leveraged Buyback launch. Fun as hell to note Bill says the buyback won;t do much for the shares -- ya right Bill... taking out 15% of the shares with an after tax cost less than the dividend won't jolt ebit and eps per shares and won't help the residual valuation per share? That's as #$%$ as tobofshitebob and texcrements and swampi's nonsense here. LOL
FY Eat S doooshie bagette. I told Bill your tubif #$%$ alias is the dumbest on yahoo -- so keep your posts limited to your texcrement and swampdoosh aliases.
Did I mention FY?
Prior to Ackman's "ridiculously expensive restructuring" (as Chapman explained it), Ackman had 24m shares short. His nutty otc put trade swapped out 10m shares short with the stock at $70 for a put trade Ramey and other suggest has 10m shares under put option with a strike at $37.50 and for which he paid an estimated premium of $6 per share.
So, ignoring that he can not possibly have a "similar profit" under the restructuring (he'll be missing and "profits between ($70 - 31.50) x 10m shares or call it = $385m and that his $6m+ premium is likely to expire worthless in 2015, that means Ackman's pershing Square fund still has its investors short some 14,000,000 shares of HLF (call it an economic hit of some $49.7m based on the current $69.40 /share print). So how does that square up with the bi-weekly SI report since his post Sep 30th cutoff for 13Fs as per Ackman's October 2 announcement?
Settlement Date Short Interest Avg Daily Share Volume Days To Cover
10/31/2013 20,772,104 2,255,828 9.208195
10/15/2013 20,195,382 3,069,032 6.580375
9/30/2013 24,481,019 3,485,424 7.023828
Well, Ackman's long and call offsets aside, it looks as if old Bill is holding one big smelly sock full of his own bs and horse dung, and ready to stuff it down his own throat as Woody Allen suggested was hard to find when one needs it. In fact, Bill is short all but 7m shares of the last reported total. LOL
The rest of you the unhedged short putzes ruining this board since $35/share deserve to be hurled under the rear axle of the short bus... this stock is on the launchpad -- see you all at $90+ soon