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Herbalife Announces Strategic Initiatives to Enhance Shareholder Value
As part of this plan, the Company has updated its capital allocation strategy and is preparing to pursue a "modified Dutch auction" tender offer seeking to purchase between
The anticipated tender offer is consistent with the Company's long-term asset allocation strategy, a strategy that has resulted in the Company repurchasing approximately
The Company also intends to effect a two-for-one stock split of the Company's common stock. "Herbalife's strong financial performance is a testament to the demand for our great-tasting, quality nutrition products, the Company's unique, effective and personalized distribution channel and the Company's global geographic reach. This would be the first split in seven years and is part of our comprehensive program to increase shareholder value," said Herbalife CEO,
Lastly, Herbalife announced its intention to change the Company's name to
"We believe changing our company name to Herbalife Nutrition is more representative of our purpose to make the world healthier and happier and reflective of our strategies and investments to be the global leader in the nutrition industry," Goudis said.
The proposals seeking to change the Company's name and effect a stock split require shareholder approval and will be submitted to a vote at the Company's Annual General Meeting of Shareholders on
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Herbalife is a global nutrition company that has been changing people's lives with great products since 1980.
Our weight-management, targeted nutrition, energy and sports and fitness and outer nutrition care products are available exclusively to and through dedicated Herbalife independent members in more than 90 countries. We are committed to fighting the worldwide problems of poor nutrition and obesity by offering high-quality products, one-on-one coaching with an Herbalife member and a community that inspires customers to live a healthy, active life.
We support the
The Company has over 8,000 employees worldwide, and its shares are traded on the
The Herbalife Investor Relations website at http://ir.herbalife.com contains a significant amount of financial and other information about the Company. The Company encourages investors to visit its website from time to time, as information is updated and new information is posted.
This press release is for informational purposes only and does not constitute an offer to purchase, a solicitation of an offer to purchase or sell any securities, including but not limited to the statements herein regarding the Company's expectations for a debt refinancing and share repurchase.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains "forward-looking statements." All statements other than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws. Forward-looking statements include, but are not limited to, statements regarding the Company's initiative to enhance shareholder value as described herein, including the anticipated debt refinancing, share repurchase, stock split and corporate name change, and our expectations, hopes or intentions regarding such future plans. Forward-looking statements may include the words "may," "will," "estimate," "intend," "continue," "believe," "expect" or "anticipate" and any other similar words. Although we believe that the expectations reflected in any of our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Our future financial condition and results of operations, as well as any forward-looking statements, are subject to change and to inherent risks and uncertainties, such as those disclosed or incorporated by reference in our filings with the
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