This page has been archived and commenting is disabled.

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.

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Tue, 04/29/2014 - 09:40 | 4707396 XenoFrog
XenoFrog's picture

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

Tue, 04/29/2014 - 09:44 | 4707411 disabledvet
disabledvet's picture

It'll be the women and children this time.

Tue, 04/29/2014 - 09:44 | 4707416 Dr. Engali
Dr. Engali's picture

This time?

Tue, 04/29/2014 - 09:47 | 4707433 Divided States ...
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

Tue, 04/29/2014 - 09:57 | 4707476 kliguy38
kliguy38's picture

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

Tue, 04/29/2014 - 10:02 | 4707498 samex157
samex157's picture

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

Tue, 04/29/2014 - 10:05 | 4707514 samex157
samex157's picture

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

Tue, 04/29/2014 - 10:17 | 4707549 gmrpeabody
gmrpeabody's picture

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

Tue, 04/29/2014 - 09:49 | 4707410 Dr. Engali
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.

Tue, 04/29/2014 - 09:51 | 4707440 NoDebt
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!)

Tue, 04/29/2014 - 09:44 | 4707413 SHEEPFUKKER
SHEEPFUKKER's picture

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

Tue, 04/29/2014 - 09:46 | 4707427 Grande Tetons
Grande Tetons's picture

Ackman will be the pounder and Icahn the poundee. 

Tue, 04/29/2014 - 09:53 | 4707458 john39
john39's picture

>>make up sex

child sacrifice more likely...

Tue, 04/29/2014 - 09:44 | 4707417 So Close
So Close's picture

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

Tue, 04/29/2014 - 16:08 | 4707538 813kml
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."

<paraphrase>

Tue, 04/29/2014 - 09:45 | 4707420 Itchy and Scratchy
Itchy and Scratchy's picture

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

Tue, 04/29/2014 - 09:45 | 4707423 junction
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. 

Tue, 04/29/2014 - 09:49 | 4707437 Divided States ...
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.

Tue, 04/29/2014 - 09:45 | 4707425 djsmps
djsmps's picture

Right

Tue, 04/29/2014 - 09:49 | 4707435 Itchy and Scratchy
Itchy and Scratchy's picture

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

Tue, 04/29/2014 - 09:50 | 4707442 tarsubil
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.

Tue, 04/29/2014 - 09:51 | 4707447 jmcadg
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!

Tue, 04/29/2014 - 10:03 | 4707507 Cacete de Ouro
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) ?

Tue, 04/29/2014 - 10:05 | 4707517 Tortfeasor
Tortfeasor's picture

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

Tue, 04/29/2014 - 10:07 | 4707523 lemarche
lemarche's picture

--- BROMANCE-EGOMANIAC IS BACK---

"- HEY BRO.

"- HEY.

"- I THOUGHT.. SINCE WE ARE BOTH EGOMANIACS, I THOUGHT.. WE SHARE THAT MUCH IN COMMON !!

"- HEY, THAT S RIGHT !

"- OK, SO LET S MAKE UP?!

"- OK.. BUT AM THE BEST !

"- NO, AM THE BEST !!!

..................

TO BE CONTINUED...

Tue, 04/29/2014 - 10:42 | 4707671 Falconsixone
Falconsixone's picture

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

Tue, 04/29/2014 - 10:52 | 4707714 Dewey Cheatum Howe
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.

Tue, 04/29/2014 - 16:43 | 4709344 Monty Burns
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.

Do NOT follow this link or you will be banned from the site!