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William Ackman of Pershing Square Capital Management.
William Ackman of Pershing Square Capital Management.
(© Shannon Stapleton / Reuters/REUTERS)

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Merry Christmas, Herbalife. Love, Bill
Be glad you’re not the CEO of Herbalife right now.

The Cayman Island-based maker of nutritional supplements found itself under attack Thursday night by none other than Pershing Square Capital’s Bill Ackman, who conducted an epic 3-hour, 300-slide presentation highlighting what he calls the company’s unsustainable business model.