Marcato Capital Management LLC, the $2.7 billion activist hedge-fund firm run by Mick McGuire, plans to vote in support of Third Point LLC’s nominees for the Sotheby’s board, according to a person familiar with the matter.
Herbalife Ltd., the nutrition company that hedge fund manager Bill Ackman has accused of being a pyramid scheme, posted a 10 percent rise in fourth-quarter profit and boosted its forecast as sales gained in China.
Bill Ackman, the activist hedge-fund manager, said he sold his firm’s General Growth Properties Inc. shares because the expected returns on the investment after management fees wouldn’t be high enough for his investors.
Broker Alon Chadad’s client purchased a $14.3 million apartment on Manhattan’s Central Park South, then spent nine months seeking approval for plans to overhaul it. In January, the buyer changed course, listing the unit for sale at more than double what he paid just a year ago.
George Soros’s Soros Fund Management LLC trimmed its stake in Herbalife Ltd. in the fourth quarter after the stock climbed by at least 60 percent from when the billionaire’s family office purchased the shares last year.
Air Products & Chemicals Inc., the industrial gas producer whose chief executive officer is due to retire, will climb to more than $200 a share after new management is installed, activist investor William Ackman said.