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Herbalife Announces $600 Million Stock Repurchase

Herbalife Ltd., a global health nutrition company based downtown, on April 18 announced a self-tender offer to buy back up to $600 million worth of shares.

Shares of Herbalife ticked up nearly 1.5 percent to around $104.50 in morning trading after the Los Angeles multi-level marketing company said it would pay not more than $108 by May 16, unless the offer is extended.

The firm, whose shares have soared 51 percent since January, now seeks shareholder approval of a two-for-one stock split.

“The company believes that the repurchase of shares pursuant to the tender offer is consistent with its long-term goal of maximizing shareholder value,” Herbalife said in a statement.

Earlier this year, Herbalife posted a fourth quarter loss of more than $63 million, while it earned $213.9 overall in 2017, down nearly 18 percent from the year before.

Health business reporter Dana Bartholomew can be reached at dbartholomew@labusinessjournal.com. Follow him on Twitter @_DanaBart.

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