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Herbalife Strengthens Ties With Icahn as Ackman War Rages

Herbalife Ltd.’s feud with hedge-fund manager Bill Ackman has driven the company further into the arms of another billionaire investor: Carl Icahn.

Herbalife announced plans today to nominate three board members picked by Icahn, the company’s biggest shareholder, adding to two directors he already has in place. The move follows a probe into Herbalife by the Federal Trade Commission that had dragged down the shares over the past two weeks.