Icahn And Ackman Have Kissed And Made Up

Tyler Durden's picture

CNBC must be reeling this morning as probably the highest-rated rivalry among hedge-fund managers has ended. As The WSJ reports, the hatchet was buried on Thursday. Mr. Ackman spoke with Mr. Icahn's assistant on April 24 saying, "I am calling to forgive Carl," according to Mr. Ackman. Mr. Icahn, 78 years old, returned the call and told Mr. Ackman, 47, that "it is a blessing to forgive," Mr. Icahn said, "and I forgive you." The acrimonious activists thus closed the door on one of the ugliest spats in financial market history as forgiving being called "a crybaby" and forgetting being labelled "a dishonest man" has been trumped by. as Ackman notes, the "much greater possibility that we are on the same side than the opposite."


As WSJ reports, one of Wall Street's ugliest spats ended last week with a phone call.

The hatchet was buried on Thursday. Mr. Ackman spoke with Mr. Icahn's assistant on April 24 saying, "I am calling to forgive Carl," according to Mr. Ackman. Mr. Icahn, 78 years old, returned the call and told Mr. Ackman, 47, that "it is a blessing to forgive," Mr. Icahn said, "and I forgive you."


The development suggests that the duo, who famously clashed on their views about nutrition company Herbalife, could team up on activist investments, where investors push for broad changes at companies or try to move prices with their arguments. Neither would name a target or timetable.


In the future, Mr. Ackman said: "There is a much greater possibility that we are on the same side than the opposite."




Mr. Icahn made the first overture last week. Appearing on CNBC, he said he didn't see "anything illegal" about Mr. Ackman's Pershing Square Capital Management LP teaming up with a pharmaceutical company to try to buy Botox maker Allergan Inc. "We have our differences, but I never said he's not a smart guy," Mr. Icahn said of Mr. Ackman on CNBC. "I think the concept of this is good. I hope it works out better for him than Herbalife did, and, I think, will. ...I never thought I'd be here defending Ackman."


Mr. Ackman and Mr. Icahn say they spoke on Thursday for about 30 minutes and agreed that they saw eye to eye on some issues.

Of course, it isn't the first peace pipe Mr. Icahn has smoked with rivals recently.

On April 10, Mr. Icahn agreed to drop his push for eBay Inc. to spin off PayPal and in the process settled with the company on a new independent director.


And after a nasty proxy battle with Forest Laboratories Inc. in June 2013, Mr. Icahn has made nice with the company's chief executive, Howard Solomon, who now says he has become "quite friendly" with Mr. Icahn.

One can't help but wonder whether Icahn wants in on the next major non-insider-trading non-front-running Pharma deal Ackman does... or whether Icahn is about to fold on HLF after last night's revelation of the massive hollowing out of the company - which has removed it from a potential LBO due to the public leverage. Either way, we suspect "being the bigger man" is not the reason for these two managers to kiss and make up.

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XenoFrog's picture

Oh good. Now they can cooperate to screw over some more people...

disabledvet's picture

It'll be the women and children this time.

Divided States of America's picture

Yeah and both these motherfuckers made out like a bandit on Herbalife I am sure.

Now they will combine their 'knowledge' to fleece sheeps even more.

Mother fuckin jbags

kliguy38's picture

they were always working together......only the sheep didn't get the kabuki theater act

samex157's picture

OK that's it, time for Musk and Christy anal after another couple reunited. 

samex157's picture

Christy put a make up on, Musk at the door in his TSLA, he's holding flowers and durex in hand

gmrpeabody's picture

Ackman best not go fishing with Carl for a while..., a long while.

Dr. Engali's picture

Who the hell talks like that? They sound like a couple emasculated homos.   Bigger fish probably told them to shut the fuck up and quit drawing attention to the pillaging the oligarchs continue to do.

NoDebt's picture

If you're an average middle class white guy (like me), I can understand your confusion.  That is NOT making nice.  That's the subtle way that tribe members tell eachother "watch your back, asshole, I'm reloading."

All the permanence of Ukranian descalation agreement.  (I've been waiting all week to use that phrase!)


Ah, that's so sweet.....now the makeup sex??

Grande Tetons's picture

Ackman will be the pounder and Icahn the poundee. 

john39's picture

>>make up sex

child sacrifice more likely...

So Close's picture

What did the old bull say to the young bull when looking down at all the heffers in field below?

813kml's picture

"Instead of running down the hill like a common criminal to fleece only one sheep, we should buy CONgress and fleece them all."


Itchy and Scratchy's picture

Oh goodie ... now I can finally live in peace and harmony with nature!

junction's picture

Does this mean Icahn is forgoing on following through with his Herbalife "short squeeze" on Ackman?  Or maybe Icahn feels sorry for Ackman, under investigation for insider trading for his massive accumulation of Allergan call options when Ackman had inside information on Valeant's hostile takeover attempt of Allergan. 

Divided States of America's picture

There will be no SEC investigation on Ackman for his Allergan trades...he is Jewish so the laws that apply to us DO NOT apply to him, nor Icahn....

Keep loading up stocks and then twit it to further cause the algos to start a buying frenzy.

Itchy and Scratchy's picture

It's not nice when billionaires don't get along!

tarsubil's picture

So essentially what happened is that Ackman identified Herbalife as a ponzi, Icahn doubled down on the ponzi with a huge surge in debt squeezing out Ackman's short, Icahn won a huge score on the ponzi, Ackman lost but will turn out to be right and both of these guys are teaming up for the next big score? Maybe PayDay loans? The scum of the scum.

jmcadg's picture

I think I'm going to be sick.
And after I've got my head out of the bog I'm going to short HLF!

Cacete de Ouro's picture

Does this mean that Icahn and Ackman will be sharing a Twitter account now (à la Gross and El-Erian) ?

Tortfeasor's picture

"Bipartisan usually means that a larger-than-usual deception is being carried out." - G. Carlin

lemarche's picture



"- HEY.





"- NO, AM THE BEST !!!



Falconsixone's picture

People used to shake forearms instead of hands for a reason.

Dewey Cheatum Howe's picture

More likely someone higher on the food chain told them both to cut it out before their sissy slapping hissy fits endangered bigger plans by drawing too much attention.

Monty Burns's picture

I was thinking the same thing.  This is the most non-natural of make-ups and their spat was drawing attention to matters that are best handled by the annointed ones alone.