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: Quote), 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
Fox News pundit Bill O'Reilly remains under fire amid accusations that he trumped up his role in covering international events. Only weeks after a Mother Jones article raised doubts about his claims that he was in the "warzone" during the Falklands War, the Washington Post noticed that O'Reilly once... PayPal, the online payment unit of Ebay, said it has agreed to buy mobile payment company Paydiant as part of efforts to expand its mobile offerings for merchants. The deal comes at a time when the mobile payment space is suffused with prominent players like Apple and Google, with retailers seeking their own mobile payment applications. Google plans to launch a limited-scale U.S. wireless service, which while not taking on the big players in the industry, would nonetheless incorporate technical innovations that could be absorbed the carriers. This was announced by Sundar Pichai, a top Google executive, at the ongoing World Mobile Congress in Barcelona.
comments powered by Disqus
RELATED NEWS
Trade HLF now with 
Follow RTT