Shares of Herbalife were higher Wednesday as activist investor Carl Icahn looks to increase his stake in the nutrition company. Icahn currently owns 21% and has permission to own up to 35%, according to CNBC. But at the Delivering Alpha conference Tuesday, Icahn said he is seeking permission from the FTC to purchase a 50% stake in the company. He also added that Herbalife might be better off as a private company. In July, Herbalife paid the FTC $200 million after an investigation into its sales practices. As part of the settlement, the FTC said the nutrition company must be more transparent to its distributors and consumers.
Subscribe to TheStreetTV on YouTube:
For more content from TheStreet visit:
Check out all our videos:
Follow TheStreet on Twitter:
Like TheStreet on Facebook:
Follow TheStreet on LinkedIn:
Follow TheStreet on Google+:
source
