Herbalife (HLF) Surges as Icahn Gets Long

February 14, 2013 5:23 PM EST
Shares of battleground stock Herbalife (NYSE: HLF) are surging 17% after-hour Thursday after Carl Icahn disclosed a 12.98% stake calling it a "a legitimate business model, with favorable long-term opportunities for growth" Icahn intends to "have discussions with management of the Issuer regarding the business and strategic alternatives to enhance shareholder value, such as a recapitalization or a going-private transaction."

Bill Ackman is short HLF in a big way.

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