Icahn Mocks Ackman’s ‘Obsession’ After Raising Herbalife Stake

August 27, 2016 12:51 AM

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Herbalife Ltd. backer Carl Icahn waited until after Friday’s market close to contradict fellow billionaire Bill Ackman, spending the day adding 2.3 million shares to his stake in the nutrition company as its stock tumbled.

In this latest tussle between the outspoken New York activist investors, the only clear outcome is that Icahn now owns even more of Herbalife: 21 percent. Ackman had said Friday that Icahn was looking to sell his stake, not add to it.

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