Now that he's made up with Icahn, Ackman told CNBC on Monday he's trying to get his hedge fund rival to sell Herbalife—a company that Ackman has waged a war against as a "pyramid scheme."
"I'd love to find [Icahn] a way out of Herbalife, because I think if he could get out now he'd have a very nice profit," Ackman said in a "Squawk Box" interview. But he refused to comment on what Icahn said.
The Ackman-Icahn detente came a little more than a year after they ripped each other to shreds in an epic CNBC battle over Herbalife, which Ackman's $13 billion Pershing Square Capital Management first shorted in May 2012.
Ackman acknowledged Monday he's lost money on Herbalife since then: "We shorted the stock $45 to $50. The stock today is $64." But he said he remains undeterred. "We have the biggest bet on Herbalife since the beginning. ... It's mostly in the form of puts."
Several federal agencies and some state attorneys general are investigating the nutritional supplement company, which has repeatedly said its business practices are sound and legal.
"If [Herbalife] disappeared tomorrow we'd make about $2 billion," Ackman said. "The question is how quickly will the government act."