Carl Icahn, Herbalife (NYSE:HLF) “Strong Candidate to Go Private”
Carl Icahn continued his support Tuesday for Donald Trump saying, he will reduce the regulation of US companies.
Carl Icahn, 80 anni, said that nutrition and weight management company Herbalife (NYSE:HLF) would be a strong candidate to go private, as such a move would allow it to avoid the kind of criticism aimed at it from Pershing Square hedge fund founder William Ackman.
“If you look ahead 3 years, this economy will be a lot better if Donald Trump gets elected” rather than Democratic candidate Hillary Clinton, Mr. Icahn said, speaking at the “Delivering Alpha” event in New York.
Donald Trump has said that Icahn would be a great US Treasury Secretary though whether the iconic hedge fund manager would commit to such a role is unclear.
Mr. Icahn expressed his frustration at US regulators Tuesday, specifically the Environmental Protection Agency (EPA) which he says has neglected to speak to him about his concerns regarding Ethanol blending requirements for the fuel refineries in his investment portfolio.
Mr. Icahn said that fear of “irrational” government regulations are a main reason why CEO’s are not re-investing in their businesses and instead buying back stock. Donald Trump would aim to reduce such regulations, he said.
Mr. Icahn also addressed his ongoing dust-up with Mr. Ackman, who in Y 2012 claimed Herbalife was running a pyramid scheme, and made a billion dollar+ wager against (shorting) the stock.
Mr. Icahn emerged later as a buyer of the shares.
Herbalife settled a probe of its sales practices with the US Federal Trade Commission (FTC) in July. Mr. Icahn has continued buying shares, and the feud with Ackman has continued.
“I think that Herbalife is certainly a candidate to go private. In fact, frankly, wearing my shareholder hat, I think Herbalife is a lot better private and getting away from this Ackman-type criticism,” Mr. Icahn said at the event. “Bill Ackman is out there driving everybody crazy, which is his right to do. He’s obsessed with this.”
|NYSE:HLF||59.84||13 September 2016||-1.84||61.07||61.07||59.05||996,200|
|HeffX-LTN Analysis for HLF:||Overall||Short||Intermediate||Long|
|Neutral (-0.19)||Bearish (-0.32)||Neutral (-0.19)||Neutral (-0.06)|
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