Carl Icahn Looking to Add to Herbalife Stake

Shares of Herbalife (HLF) - Get Report 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.

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