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
Yahoo Inc has won exclusive rights to the National Football League's first Internet-only broadcast of a football game between the Buffalo Bills and Jacksonville Jaguars that will be played in London on Sunday, October 25. Applications for home mortgages in the U.S. declined last week on a seasonally adjusted basis as purchase and refinancing applications waned, shows data by the Mortgage Bankers Association. In strict adherence to the policy that 'drinking and driving are incompatible,' Anheuser Busch InBev has fired its head of operations in Germany.
comments powered by Disqus
Follow RTT