Herbalife launches share buyback, stock jumps 10%

Herbalife launches share buyback, stock jumps 10%

Nutritional supplement company Herbalife says recent talks to go private have ended without a deal, and the company has launched an offer to repurchase up to $600 million of its stock at $60 to $68 per share. Herbalife says that Carl Icahn, the company’s largest shareholder, and Herbalife executives won’t tender shares in the offer. Herbalife’s stock rose nearly 10% in trading Monday to close at $68.04 per share. The company employs more than 1,000 in Winston-Salem.

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