GO
Loading...

Enter multiple symbols separated by commas

Whitney Offer to Buy Out Herbalife

Nutritional supplements company Herbalifesaid Friday it got a buyout offer from Whitney V to buy the company for $38 per share in cash.

Whitney and related parties own about 27% of the company's outstanding stock. With around 71.3 million shares outstanding, roughly 52 million shares are owned by Whitney, which amounts to a buyout worth about $2 billion.

Herbalife's board set up a special committee to review the proposal.

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

U.S. Video

  • CEO discuss the 'Buffett factor'

    John Stumpf, Wells Fargo chairman & CEO; Kenneth Chenault; American Express chairman & CEO; Ginny Rometty, IBM chairman & CEO; and Muhtar Kent, Coca-Cola chairman & CEO, discuss their relationships with Warren Buffett and marvel at just how easy it's been to communicate with him.

  • Rometty on Watson: He never stops learning

    IBM CEO Ginny Rometty talks Watson, and how it's going to help people make decisions. It never stops learning, she says. Rometty also discusses the company's dividend.

  • Why Buffett bought more IBM

    Berkshire CEO Warren Buffett addresses his purchase of more IBM shares and allegations of predatory lending at Clayton Homes.