When the Wolves Bite: Two Billionaires, One Company, and an Epic Wall Street Battle

When the Wolves Bite: Two Billionaires, One Company, and an Epic Wall Street Battle

by Scott Wapner


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The inside story of the clash of two of Wall Street's biggest, richest, toughest, most aggressive players—Carl Icahn and Bill Ackman—and Herbalife, the company caught in the middle

With their billions of dollars and their business savvy, activist investors Carl Icahn and Bill Ackman have the ability to move markets with the flick of a wrist. But what happens when they run into the one thing in business they can't control: each other?

This fast-paced book tells the story of the clash of these two titans over Herbalife, a nutritional supplement company whose business model Ackman questioned. Icahn decided to vouch for them, and the dispute became a years-long feud, complete with secret backroom deals, public accusations, billions of dollars in stock trades, and one dramatic insult war on live television. Wapner, who hosted that memorable TV show, has gained unprecedented access to all the players and unravels this remarkable war of egos, showing the extreme measures the participants were willing to take.

When the Wolves Bite is both a rollicking, entertaining read—a great business story of money and power and pride.

Product Details

ISBN-13: 9781610398275
Publisher: PublicAffairs
Publication date: 04/24/2018
Pages: 256
Sales rank: 484,943
Product dimensions: 6.37(w) x 9.62(h) x 0.87(d)

About the Author

Scott Wapner is the host of Fast Money: Halftime Report, which airs every weekday on CNBC. Wapner has also reported several documentaries for the network, including Ultimate Fighting: From Blood Sport to Big Time, which earned him an Emmy nomination, and One Nation, Overweight, for which he received an award from the Society of American Business Editors and Writers as well as a Sigma Delta Chi Award from the Society of Professional Journalists. Known industry-wide as an expert in the area of activism and markets, Wapner has reported live from the floor of the New York Stock Exchange and is in regular contact with all the personalities in this book. He lives in New Jersey.

Table of Contents

Author's Note vii

Introduction: The Masters of the Universe 1

1 The Profile 5

2 The Pitch 10

3 The Activist 23

4 Selling a Dream 41

5 The Phone Call 56

6 The Big Short 70

7 The Poison Pen 87

8 The Brawl 99

9 The Icon 110

10 The Exit and the Pile-On 130

11 The Lobbyist 141

12 The Death Blow 155

13 The Year That Wasn't 166

14 The Flush and the Feds 189

15 Finale or Fakeout? 203

Coda: Big Thoughts 212

Addendum 215

Acknowledgments 217

Notes 219

Index 235

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