CCTV Script 06/05/14

— This is the script of CNBC's news report for China's CCTV on May 6, Tuesday.

Welcome to the CNBC Business Daily.

Make peace, not war.

Activist investor Bill Ackman is widely known for rattling the cages of corporate America.

He was also in the spotlight recently for his public feud with another well known shareholder activist - Carl Icahn.

But apparently.. they've since made up.

Who made the first move?

Let's hear from Ackman.. as he tells CNBC's Scott Wapner how he reached out to Carl Icahn and settled their very public feud over Herbalife... sort of.

[WILLIAM ACKMAN / Managing Partner, Pershing Square Capital Mgmt] "THE ANSWER IS I -- LIFE IS A LONG GAME. YOU'VE GOT TO RESPECT A GUY THAT LATE ON IN HIS CAREER HE'S STILL PROBABLY THE MOST ACTIVE SHAREHOLDER ACTIVIST IN THE COUNTRY. HE'S CREATED AN ENORMOUS AMOUNT OF WEALTH AS AN INVESTOR. HE'S GOT A GREAT TRACK RECORD, AND HE'S FRANKLY A CHARMING GUY. NOW I DID NOT LIKE THE WAY HE CONDUCTED HIMSELF IN MY LITTLE DISCUSSION. THAT'S FAR FROM HOW YOU DESCRIBED HIM TO ME IN JANUARY 2013.

THAT'S RIGHT. JUST A LONG-TERM GUY AND FRANKLY SAID SOME NICE THINGS ABOUT ME ON YOUR NETWORKS AND I CALLED HIM AND THANKED HIM AND JUST DECIDED TO MOVE ON AND AGREE TO DISAGREE ON HERBAL LIFE AND ACTUALLY MAYBE WE GET TO KNOW EACH OTHER A LITTLE BIT AND I CAN EXPLAIN TO HIM WHY HE'S WRONG. WILL YOU DO AN INVESTMENT TOGETHER DOWN THE ROAD, DO YOU THINK?

IT'S POSSIBLE.

YOU'RE OPEN TO THAT.

AS CARL SAID TO ME WE SHARE A LOT OF SIMILAR THINKING ON ISSUES OF CORPORATE GOVERNANCE IN AMERICA, AND IT MAKES SENSE FOR US TO BE PARTNERS AS OPPOSED TO ENEMIES.

(ON CAM)

Well those two don't seem to be the only ones getting along.

Also speaking to CNBC last night was Warren Buffett... who also had a thing or two to say about Carl Icahn.

[WARREN BUFFETT / Chairman and CEO, Berkshire Hathaway] "Behavior is formed by decades earlier and people like to get along with other people. Most people, a few people, Carl, doesn't have that gene quite as strongly as others and i love Carl but he may enjoy battle. Some people do that. But generally, you don't get invited on board if you think you've got a person who loves a fight."

So does shareholder activism have a place in the markets?

Here's what Bill Gates had to say.

[BILL GATES / Founder & Chairman, Microsoft] "Well, there's a level of discipline that shareholders in the hierachy - they should be viewing the actions of the board and management. Soemtimes, it seems to get focused on very short term things like the dividends policies opposed to the strength of the management team and the long term strategy. But shareholders having power is a very important part of the system."

That wraps up this edition of the Business Daily.

I'm Sri Jegarajah, reporting from CNBC's Asian headquarters

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