logo
Share SHARE
FONT-SIZE Plus   Neg

Icahn Boosts Stake In Herbalife To Over 15%

Activist investor Carl Icahn has increased his stake in nutritional supplements maker Herbalife Ltd. (HLF), a regulatory filing showed Thursday.

Icahn increased his stake to 15.55 percent from the previous 13.6 percent. He now holds 16.03 million shares in the company.

Last month, the firm agreed to accept two Board nominees of Icahn, and said it would expand the Board strength by two members.

As per the terms with Icahn, the nutrition company is to enhance its Board size to 11 members immediately before the 2013 annual meeting of shareholders. Icahn and his affiliates also have the right to increase the size of their stake in Herbalife up to 25 percent of the outstanding common stock.

HLF, which closed unchanged at $41 on Thursday, added 1.8 percent in the extended trade.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Following his twelve-day trip to Asia, President Donald Trump announced Monday the U.S. is putting North Korea back on a list of state sponsors of terrorism. Trump announced the move in comments ahead of a Cabinet meeting and said his administration would also be ramping up sanctions on North Korea. Volkswagen plans to invest about 22.8 billion euros in its core brand from 2018 to 2022, with main focus on e-mobility and modularization. In a statement on Saturday, the German automaker announced that the investments, as part of the brand's Transform 2025+ strategy, will significantly boost the brand's largest product and technology offensive. Health IQ Insurance Services, a startup focused on providing life insurance for health-conscious individuals, said it has secured $34.6 million in Series C funding, led by Andreessen Horowitz. To date, the company has raised a total of $81 million in funding mostly from its existing investors.
comments powered by Disqus
Follow RTT