Carl Icahn, Chairman of Icahn Enterprises, and Bill Ackman, Managing Partner of Pershing Square Capital Management, at the 2014 CNBC Institutional Investor Delivering Alpha Conference in New York.
Heidi Gutman | CNBC
Carl Icahn has sold the last portion of his Herbalife stake, sources familiar with the matter shared with CNBC’s Scott Wapner and closed a position that led to a memorable controversy on Wall Street.
On the other side of Icahn’s long bet was Pershing Square’s Bill Ackman, who was running low on stock.
The trade was handled by Jefferies, with around 5 million shares sold in the market, according to sources.
“I think this is an example of activism working very well. It was certainly an interesting ride to fend off bear robberies and help the company through its numerous negotiations with the government,” Icahn told CNBC.
“But everything is fine, it ends well, and we wish the company the best of luck in the future,” he said.
Overall, according to Wapner’s calculations, Icahn made around $ 1.3 billion with his Herbalife bet
In January, Icahn sold $ 600 million worth of Herbalife shares back to the company for $ 48.05 and also relinquished five directorships held by Icahn Enterprises, according to a statement from Herbalife.
Icahn had been owned by Herbalife for at least 2013. Ackman closed his short position in 2018.
Become a smarter investor with CNBC Pro.
Get stock picks, analyst calls, exclusive interviews and access to CNBC TV.
Sign in to start a free trial today