logo
Plus   Neg
Share
Email
Comment

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
Tech giants Amazon.com, YouTube and Twitter as well as Verizon Communications are exploring bids for digital streaming rights to the National Football League or NFL's Thursday Night Football package, according to media reports. The NFL is likely to strike a multi-year deal for the digital streaming rights. However, the television audience for the NFL has declined for two consecutive years. Wynn Resorts Ltd. said Friday that former Chief Executive Officer Steve Wynn is not entitled to any severance payment of other compensation from the company. Wynn resigned last week as CEO and Chairman of the board following allegations of sexual misconduct. In a regulatory filing, Wynn Resorts said it entered into a separation agreement between Steve Wynn, and Wynn Resorts Holdings LLC. Beverages giant Coca-Cola Company on Friday reported a net loss for the fourth quarter, reflecting a one-time charge related to the U.S. tax reform and a double-digit decline in revenues. However, adjusted earnings per share matched analysts' expectations, while revenues beat their estimates. The company's shares are rising more than 2 percent in pre-market activity.
comments powered by Disqus
Follow RTT