Herbalife Repurchase Shares Worth $600 Million from Icahn Enterprises
LOS ANGELES, 4th Jan 2021-- Herbalife Nutrition, a premier global nutrition company entered into an agreement to repurchase approximately $600 million of the Company’s common shares from Icahn Enterprises.
The purchase of the shares will be funded from Herbalife Nutrition’s cash on hand and existing credit facility.
The repurchase of shares is a part of the Company’s 2018 program that will have resulted in the Company repurchasing a total of approximately $1.5 billion in shares.
After this transaction Icahn Enterprises will hold approximately 8 million Herbalife Nutrition common shares, representing approximately 6% of the outstanding shares.
In 2013, at a time when Herbalife Nutrition was under pressure from short sellers, the Company agreed to give Icahn Enterprises five bo...