Deals
Bill Ackman Gives Up Herbalife Fight, Ending Five-Year Saga
- Billionaire started short campaign in 2012 with $1 billion bet
- Investor is now said to have almost entirely exited position
Bill Ackman
Photographer: Andrew Harrer/Bloomberg
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One of the longest and most colorful battles in Wall Street history is over, and Bill Ackman lost.
Ackman has almost entirely exited his position in Herbalife Ltd., ending a short-selling campaign that lasted more than five years, according to a person familiar with the matter. The move follows a steady rise in the shares of a company that he repeatedly called an illegal pyramid scheme and vowed to destroy.