trending Market Intelligence /marketintelligence/en/news-insights/trending/hfoa14l3olxwktq5fj_bla2 content esgSubNav
In This List

Herbalife Nutrition agrees to repurchase about 6.5% of its shares

Blog

Using ESG Analysis to Support a Sustainable Future

Video

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Q&A: Streamlining Analytics for TCFD Reporting

Blog

Evergrande and the wider impact: a sentiment analytics based perspective


Herbalife Nutrition agrees to repurchase about 6.5% of its shares

Herbalife Nutrition Ltd., which makes products for weight management, energy and fitness, and personal care, on May 30 said it agreed to repurchase about 6.5% of its outstanding common shares in a tender offer worth up to $600 million.

It accepted for purchase of 11,428,571 million common shares tendered through a modified Dutch auction at a cash purchase price of $52.50 per share.

The tender was oversubscribed, and Herbalife will accept a prorated portion of 23% of the stock offered.

The company, based in Los Angeles, will fund the share purchase from cash in hand and the $1.30 billion term loan of its $1.45 billion credit facility, which it entered Feb. 15, 2017.

Herbalife initially launched the tender offer April 18, proposing to buy stock at between $98 and $108 per share. However, it adjusted the price range May 16 to between $49 and $54 following a two-for-one stock split.