Carl C. Icahn officially has a dog in the Herbalife fight.
The billionaire investor has built up a 12.98 percent stake, or 14 million shares, in Herbalife, a nutritional supplements company that has been at the center of a public spat involving prominent Wall Street investors. Mr. Icahn paid about $214.1 million for shares and call options in the company, according to a filing on Thursday.
Mr. Icahn amassed his position recently, ramping up his purchases in late January and February after a heated debate on live television with another investor, William A. Ackman, who is betting against Herbalife.
The two investors, whose animosity against each other extends back a decade, engaged in an argument on CNBC on Jan. 25 that riveted Wall Street.
Mr. Icahn had indeed bought a stake in Hrbalife at that point, but he accelerated his purchases in the subsequent weeks.
Herbalife’s shares jumped as much as 20 percent in after-hours trading on Thursday. The stock rose 5 percent during the day to close at $38.27 a share.
Mr. Ackman, of Pershing Square Capital Management, announced his short-selling position in December, contending that Herbalife was a fraud. Since then, other big-name investors have taken sides. Daniel S. Loeb, who runs Third Point, said he was betting that Herbalife shares would rise.
Herbalife has defended itself against Mr. Ackman’s accusations, even as a battle has raged about its prospects. The company is “financially strong and successful,†Barbara Henderson, a spokeswoman for Herbalife, said in a recent statement, calling Mr. Ackman’s position “reckless.â€
Much of Mr. Icahn’s stake consists of call options. He owns options for 8.3 million shares that expire on Jan. 28, 2015, in addition to options for 3.2 million shares that e! xpire on May 10 of this year.
