The controversy surrounding Herbalife Ltd should not prevent a willing buyer for the company from being able to finance a takeover, billionaire investor Carl Icahn told CNBC on Friday. Icahn failed to comment on whether his firm, Icahn Enterprises LP, would launch a tender offer for shares of the weight loss products company, a day after revealing a 13 percent ownership stake and a desire to explore strategic options for Herbalife.The famed corporate raider did say that financing a takeover would not be a problem."I think we would definitely get capital if we needed it," Icahn told the business news station. "You can imagine I've had calls from a number of investment bankers and people with capital. We have capital ourselves."Icahn has positioned himself against rival investor Bill Ackman, who has shorted Herbalife stock and said he sees the share price going to zero.
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 traded higher by 8.57% or $3.28/share to $41.55. In the past year, the shares have traded as low as $24.24 and as high as $73.00. On average, 9307260 shares of HLF exchange hands on a given day and today's volume is recorded at 29765170.
Icahn Enterprises L.P. (Icahn Enterprises) is a diversified holding company. Shares of IEP fell by 4.56% or $-3.971/share to $83.18. In the past year, the shares have traded as low as $37.22 and as high as $87.99. On average, 30198 shares of IEP exchange hands on a given day and today's volume is recorded at 260300.
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