Deals
Herbalife Boosts Share Buyback as Profit Beats Estimates
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Herbalife Ltd., the nutrition company hedge fund manager Bill Ackman has accused of being a pyramid scheme, boosted its share buyback by 50 percent to $1.5 billion and announced a $1 billion sale of convertible bonds.
Fourth-quarter earnings were probably $1.26 to $1.30 a share based on preliminary results, excluding some items, the company also said today. Analysts predicted $1.16, the average of estimates compiled by Bloomberg. Sales rose about 20 percent.