It's a bad Monday for billionaire investor Bill Ackman

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William Ackman speaks during the Sohn Investment Conference in New York May 4, 2015. REUTERS/Brendan McDermid

Thomson Reuters

William Ackman speaks during the Sohn Investment Conference in New York

The week is off to a bad start for Bill Ackman.

Herbalife shares were up about 8% Monday morning following news that it had talks to go private .

The surge is a blow to Bill Ackman's Pershing Square Capital, the activist fund that famously went short on the supplements company five years ago while accusing it of operating as a pyramid scheme. Pershing Square's bet has largely gone the wrong way since it was put on.

Meanwhile, the human resources company ADP rejected Ackman's board nominations. Pershing Square took an 8% stake in the company earlier this summer and had been seeking three board seats , including one for Ackman.

ADP " determined that none of the Pershing Square nominees bring additive skills or experience to ADP's Board," the company said Monday .

"Unlike Mr. Ackman's nominees, ADP's directors have a deep understanding and appreciation of the current state of ADP's business and its clients," John P. Jones, Non-Executive Chairman of the Board, said in the statement.

ADP had been gaining up until July 31, a few days after Bloomberg News reported that Ackman had taken a stake in the company. The stock has been falling since.

Pershing Square Holdings, a publicly traded vehicle which is a proxy for Pershing's private fund, is down 1.7% this year through August 15 , meanwhile.

A spokesman for Pershing Square didn't immediately comment.

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