Herbalife Says Acquisition Talks Ended
April 9 (Bloomberg) -- Herbalife Ltd., a seller of nutritional and weight-loss supplements, said talks about a sale to its largest shareholder Whitney & Co. ended.
A special committee set up to consider an offer was disbanded, Herbalife said today in a statement.
The vitamin seller said April 5 that Whitney was considering raising a previous offer of $2.7 billion, which Herbalife had rejected last month as insufficient. Whitney was among the investors that took Herbalife public in 2004.
``The stock is worth a lot more than what they were bidding,'' said Rommel Dionisio, an analyst at Wedbush Morgan Securities in Los Angeles, who rates the shares ``buy.'' ``It's welcome news because it allows the stock to now trade on its fundamental strength.''
Dionisio doesn't expect any additional bids for Herbalife.
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