Ackman approached to buy Icahn’s Herbalife Shares

Shares of Herbalife were lower Friday after reports that billionaire investor Carl Icahn was looking to sell his 18% stake in the global nutrition company. Icahn discussed selling his stake to Pershing Square Capital Management, according to the Wall Street Journal. On CNBC this morning, Pershing Square CEO Bill Ackman said that he refused at first but later said that he would consider buying a few million shares if Jefferies could find a block of buyers. But Ackman added that if Icahn sells, he thinks it will accelerate the demise of the company.

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