Carl Icahn Takes Bill Ackman to School on Herbalife

Hedge fund manager Carl Icahn revealed a stake in Herbalife

after-hours on Thursday. Icahn now owns nearly 18% of the company, almost 14 million shares. Per the filing, Icahn will seek talks with Herbalife, including possibly going private. Shares of Herbalife jumped over 13% in after-hours trading, near $43.50. Last month on CNBC, Icahn argued with Ackman publicly. At the time, Icahn didn't reveal if he owned shares of Herbalife. However, Ackman baited him into taking the company public. "If you want to make a tender offer for the company, you can make it," Ackman said to Icahn. Later, Icahn characterized the possibility of Herbalife as being the "short squeeze of a lifetime." CNBC's Scott Wapner reported Thursday that Icahn had told him Ackman was "completely off base." Icahn will appear on CNBC tomorrow at noon to discuss his stake.