Herbalife to Add Two Board Members Chosen by Carl Icahn
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Herbalife Ltd. agreed to add two board members chosen by Carl Icahn and allow him to boost his stake to as much as 25 percent, escalating the billionaire investor’s feud with rival hedge fund manager Bill Ackman.
The board will expand to 11 from nine members, the Cayman Islands-based company said yesterday in a statement. Herbalife said Icahn had a 13.6 percent stake in the company, up from the 13 percent he reported last month.