Herbalife Names Moelis Adviser After Ackman Shorts Stock
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Herbalife Ltd., the maker of weight-loss supplements whose shares have been shorted by hedge-fund manager Bill Ackman, hired Moelis & Co. as a strategic adviser.
Herbalife also said it hasn’t utilized the $950 million remaining on its $1 billion share repurchase authorization because of trading restrictions, according to a statement today. It said it will exceed the previously announced quarterly guidance of $50 million of the repurchase in upcoming quarters.