Carl Icahn sells over half his Herbalife stake for US$600m: WSJ

[BENGALURU] Carl Icahn has sold more than half his stake in Herbalife Nutrition for US$600 million and is planning to give up the five seats on the board held by his representatives, the Wall Street Journal reported on Sunday.

Mr Icahn, who had a 16 per cent stake in Herbalife, sold about 10 per cent back to the company in recent days, the newspaper reported, citing people familiar with the matter.

That has left him with a roughly 6 per cent stake, worth US$400 million, in the multi-level marketing company, whose products include dietary supplements, according to the report.

REUTERS