Carl Icahn’s Icahn Enterprises (IEP) continues to bleed after the short specialist Hindenburg Research attacked the company at the beginning of May.
The value of the billionaire’s company has fallen from about $19 billion to $7 billion after the critical report.
On Wednesday, Bill Ackman – a longtime foe of Icahn’s – took to the stage and escalated the rhetoric surrounding Icahn’s debt load and the lenders who have made it possible.
More specifically, Ackman wrote in a tweet that Icahn Enterprises resembled “to some extent” Bill Hwang’s Archegos Capital Management, which collapsed after it set off a series of loss bombs. Credit Suisse lost $5.5 billion in the bankruptcy, while Nomura, Morgan Stanley and UBS had to bear smaller losses.
– Icahn’s favorite expression from Wall Street is: “If you want a friend, get a dog”. During his legendary career, Icahn has made many enemies. I don’t know if he has any real friends. He could use one here, Ackman continues.
He countered Carl Icahn on Thursday, where journalist Charlie Gasparino in Fox News said that Icahn is “planning a counter-offensive” against Hindenburg, which could involve “legal action or share buybacks”.
2023-05-27 14:36:50
#Planning #counteroffensive
