Herbalife shares rose yesterday after billionaire Carl Icahn bought more than 2.3m shares in the nutrition company.

Spinmania is crossing the Atlantic. If 2014 was the year of the US corporate spinoff, the next 12 months may see the trend grow in Europe.

Actavis plc agreed to pay about $66bn (€53bn) for Allergan, a deal that creates a new top 10 drugmaker and ends Valeant Pharmaceuticals International’s attempt at a hostile takeover of the maker of Botox.

Hedge fund mogul David Tepper had a case of deja vu when he ranked as the best paid hedge fund manager for the second year running by earning $3.5bn (€2.5bn) in 2013 with a savvy bet on airline stocks.