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Herbalife adjusts price range of self-tender offer

Herbalife Nutrition Ltd. said May 16 that it adjusted the price range of the self-tender offer it launched in April.

The U.S. personal and beauty products company is offering to purchase in cash up to $600 million shares of its common stock.

The company said it will now buy shares at a per share price of between $49 and $54, following the recent implementation of a two-for-one stock split by the company. Herbalife previously said it will buy the shares at a per share price of between $98 and $108.

The aggregate tender offer consideration, adjusted for the stock split, remains the same.

The tender offer will expire at 5 p.m. ET on May 24, unless extended.