The fourth week of August was active for Herbalife Ltd. (NYSE: HLF), with shares trading from $57.10 to $64.49. At the end of the week, Carl Icahn
not only kept his position, as reported by the Benzinga
Pro newswire on Wednesday, but bought an additional 2.3 million shares.
Here is a timeline of events:
Wednesday, August 24
- 9:30 a.m. - 11:40 a.m. ET: Herbalife trades about 2 percent lower on rumors Icahn is considering selling his
stake.
-
11:40 am: Benzinga Pro reports that Icahn isn't
selling his stake, according to sources familiar with the matter.
- 12:48 pm: Charlie Gasparino affirms Benzinga Pro’s earlier report that Icahn isn't selling his shares.
Related Link: Lachapelle:
Ackman And Icahn Played A Game Of Chicken
Thursday, August 25
- 11:18 am: Carson Block says, "Much of Ackman's thesis on Herbalife has been validated by FTC."
Friday, August 26
- 4:00 am: The Wall Street Journal reports Icahn considered selling his stake to a group including Bill
Ackman.
-
8:09 am: Ackman says on CNBC that Icahn is a known seller of the stock, which will accelerate the
demise of the company.
-
4:28 pm:
Benzinga Pro reports that a filing by Icahn is "Imminent," tells users to expect volatility.
- 4:35 pm: Carl Icahn buys 2.3 million more shares in Herbalife, issues statement saying he believes in the
company and discrediting Ackman's earlier reports.
- 4:40 pm: Herbalife shares climb 6.6 percent to $64.49.
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