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
Wal-Mart Stores has disappointed Nintendo fans after it cancelled pre-orders for the Super Nintendo Entertainment System - Classic Edition, a standalone mini Super Nintendo with pre-loaded games. The console is slated to be launched later this fall. Oil company Exxon Mobil Corp. on Friday reported a 97 surge in profit for the second quarter from last year, while Chevron Corp. reported a turnaround to profit in the quarter, both on higher revenues. The results reflect higher crude oil and natural gas prices as well as improved refining margins. However, Exxon Mobil's earnings missed analysts' expectations. Merck (MRK) reported second-quarter Non-GAAP EPS of $1.01 compared to $0.93, a year ago. On average, 16 analysts polled by Thomson Reuters expected the company to report profit per share of $0.87 for the quarter. Analysts' estimates typically exclude special items. Second-quarter net income attributable...
comments powered by Disqus
Follow RTT