Herbalife Ltd. rose the most in more than four months, signaling that Carl Icahn’s prediction that rival hedge-fund manager Bill Ackman would become the victim of the “mother of all short squeezes” may be coming true.
Hedge-fund manager Bill Ackman is among a group of investors who agreed to pay more than $90 million for a duplex penthouse at Manhattan’s One57 condominium tower, a person with knowledge of the deal said.
Kenneth Heebner, who once ranked as America’s No. 1 stock picker, took new positions in Goldman Sachs Group Inc. and Hertz Global Holdings Inc., while selling out of Bank of America Corp. and Herbalife Ltd.
Third Point, the hedge fund led by billionaire Daniel Loeb, has proposed Sony Corp. sell part of its entertainment business in an initial public offering, according to a letter obtained by Bloomberg News.
Herbalife Ltd., the nutrition company at the center of a battle between hedge-fund managers Bill Ackman and Carl Icahn, was prompted by federal regulators in March to disclose payments to two directors who are also distributors.