Activist Investor Daniel Loeb Takes 8% Stake in Herbalife
Jan 9th 2013 2:53PM
Updated Jan 9th 2013 2:56PM
Daniel Loeb, the CEO of New York-based hedge fund Third Point LLC, has purchased 8.9 million shared voting power common stock shares of Herbalife , according to an SEC filing today. Loeb's ownership stake is equal to 8.24% of outstanding shares of Herbalife, a nutrition company noted for its direct selling business model through independent distributors.
Herbalife representatives are scheduled to host an analyst and investor meeting in New York at 9 a.m. EST, Jan. 10. The meeting will be attended by Herbalife senior management, and is expected to address Herbalife's recent business in greater detail.
An attempt to contact Herbalife representatives to get comment on the recent common stock acquisition by Loeb was unsuccessful.
The article Activist Investor Daniel Loeb Takes 8% Stake in Herbalife originally appeared on Fool.com.Tim Brugger has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.