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How Ackman’s Herbalife bet inflamed Wall Street passions

NEW YORK - The origins of a vitriolic battle that has pitted billionaire hedge fund manager Bill Ackman against rivals such as Carl Icahn, Dan Loeb and George Soros can be traced back to a routine event in the world of investor activism: The unveiling in late December of Pershing Square Capital Management's bearish bet against Herbalife Ltd.

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