(Reuters) – Carl Icahn has sold more than half his stake in Herbalife Nutrition Ltd for $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.
Icahn, who had a 16% stake in Herbalife, sold about 10% back to the company in recent days, the newspaper reported, citing people familiar with the matter.
That has left him with a roughly 6% stake, worth $400 million, in the multi-level marketing company, whose products include dietary supplements, according to the report https://on.wsj.com/3b4a4UR.
(Reporting by Kanishka Singh in Bengaluru; Editing by Himani Sarkar)
