Herbalife shares ended the day up 7 percent yesterday, following an announcement of the company’s latest agreement with billionaire investor Carl Icahn. In accordance with the agreement, Icahn and entities party to the investor now hold a 13.6 percent stake in the company, with the right to increase the size of their ownership position up to 25 percent. Herbalife also announced that it will expand the size of its Board of Directors, adding two Icahn representatives to the nine sitting members.
Read the full Wall Street Journal story here.
