Bill Ackman Calls Hindenburg's Adani Report ‘Highly Credible’
- Adani Group exploring legal action against Hindenburg Research
- Hindenburg says legal action “welcome,” stands by the report
This article is for subscribers only.
Pershing Square’s Bill Ackman found the Hindenburg Research’s report on Adani Group companies “highly credible and extremely well researched,” he said in a Twitter post, less than two days after the American short seller’s swipe at the Indian conglomerate shaved $12 billion off its market value.
“Adani’s response to Hindenburg Research is the same as Herbalife’s response to our original 350-page presentation,” Ackman said, referring to his ill-fated short-selling campaign that lasted more than five years against the weight-loss shakes seller before he exited his position in Herbalife Nutrition Ltd. in 2018.