Dan Loeb Jumps in Behind Herablife

Before you go, we thought you'd like these...
Before you go close icon

pillsHerbalife Ltd. (NYSE: HLF) is getting a very strange move in this activist shareholder battle. Last night we noted that Bill Ackman of Pershing Square was out with its summary document stating its case against Herbalife. It did not just dance around the terms "pyramid scheme" lightly.

Now we have a new shareholder having taking a stake, and it is a rather well-known investor. Dan Loeb of Third Point LLC has taken a stake of 8,900,000 for an 8.24% stake. What is so odd is that Ackman and Loeb are not enemies, and they have had positive dealings between themselves and with others in the past.

Herbalife shares were halted, but what is interesting here is that there is no mention of the intent nor any mention of activist intentions. Is Loeb now just betting against Ackman opportunistically?

Stay tuned. The Herbalife situation is one that went from odd to strange to bizarre. Herbalife shares were halted for an upside tripwire of the NYSE circuit breaker rules.

Filed under: 24/7 Wall St. Wire, Activist Investor, Corporate Governance, Retail, Short Interest Tagged: HLF
Read Full Story


S&P 500 2,343.98 -1.98 -0.08%
DJIA 20,596.72 -59.86 -0.29%
NASDAQ 5,828.74 11.04 0.19%
DAX 12,064.27 24.59 0.20%
NIKKEI 225 19,262.53 177.22 0.93%
HANG SENG 24,358.27 30.57 0.13%
USD (per EUR) 1.08 0.00 0.08%
USD (per CHF) 0.99 0.00 0.01%
JPY (per USD) 111.34 0.03 0.02%
GBP (per USD) 1.25 0.00 0.01%

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners