Herbalife plans stock split, to change name

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(Reuters) – Herbalife (HLF.N) said it plans to change its corporate name, refinance debt and effect a 2-for-1 stock split as part of initiatives to boost shareholder returns. Herbalife intends to change its name to ‘Herbalife Nutrition Ltd’ and is seeking to refinance a portion of its $1.15 billion outstanding convertible notes due Aug. 15, 2019. The company said it also intends to pursue a “modified Dutch auction” tender offer seeking to purchase between $450 million and up to $650 million of shares of its outstanding common stock. Reporting by Vibhuti Sharma in Bengaluru; Editing by Saumyadeb ChakrabartyOur Standards:The Thomson Reuters Trust Principles.
Source: Reuters