Deals
Soros, Icahn Add Herbalife Stakes in Bets Against Ackman
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Billionaires George Soros and Carl Icahn bought a combined 5.65 million shares in Herbalife Ltd. in the second quarter in a bet that hedge-fund manager Bill Ackman is wrong about the nutrition and weight-loss supplement company.
Soros Fund Management LLC, the investor’s family office, acquired a 4.9 percent stake in Herbalife valued at $227.5 million at the end of the quarter, according to a filing yesterday. The company was Soros’s third-largest U.S. stock-listed holding as of June 30.