Herbalife Ltd said it has had "short" discussions with billionaire investor Carl Icahn, who last week revealed a long position in the diet supplements company and expressed an interest to explore strategic alternatives. "Yes, we've had short discussions with Icahn. Beyond that, there's nothing concrete to report," said Chief Executive Michael Johnson in reply to an analyst's question on a post-earnings conference call on Wednesday.The company, whose stock has become a battle ground between hedge fund titans Icahn and William Ackman, who has a high-profile short position in the company, raised its full-year earnings forecast on Tuesday.Icahn revealed in a regulatory filing last week that he owns a stake of about 13 percent in Herbalife and said he wanted to meet with Herbalife's management "regarding the business and strategic alternatives to enhance shareholder value, such as a recapitalization or a going-private transaction."Icahn has declined to say whether his firm, Icahn Enterprises LP, would launch a tender offer for shares of the weight-loss products company, but did say that financing a takeover would not be a problem.
Herbalife Ltd. is a global network marketing company that sells weight management, nutritional supplements, energy, sports and fitness products and personal care products through a network of approximately 2. Shares of HLF fell by 2.06% or $-0.82/share to $38.92. In the past year, the shares have traded as low as $24.24 and as high as $73.00. On average, 10198800 shares of HLF exchange hands on a given day and today's volume is recorded at 5134535.
Icahn Enterprises L.P. (Icahn Enterprises) is a diversified holding company. Shares of IEP fell by 3.43% or $-2.44/share to $68.60. In the past year, the shares have traded as low as $37.22 and as high as $90.75. On average, 38900 shares of IEP exchange hands on a given day and today's volume is recorded at 96005.
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