Activist money manager Carl Icahn boosted his stake in
nutritional-supplement maker Herbalife Ltd. (HLF), another move in
a busy day for the billionaire investor that saw his involvement in
several high-profile corporate sagas.
In a filing late Thursday with the U.S. Securities and Exchange
Commission, Mr. Icahn disclosed that he increased his Herbalife
stake to 15.55%, up from about 13%.
Herbalife shares, down 38% over the past 12 months, rose 1.6% to
$41.65 in recent after-hours trading.
In addition to the increased Herbalife stake, The Wall Street
Journal reported Thursday that Mr. Icahn had been in talks with
Dell Inc. (DELL) over a potential bid for the company before Mr.
Icahn pushed for a huge special dividend, citing people familiar
with the matter.
Meanwhile, the tussle continued between Mr. Icahn and offshore
driller Transocean Ltd. (RIG) over the company's dividend and board
members, while separately Mr. Icahn voiced his support for
commercial-truck maker Navistar International Corp.'s (NAV) new
chief executive, Troy A. Clarke.
The Herbalife increase comes roughly a week after Herbalife
agreed to name two of Mr. Icahn's designees to its board, as the
company won new support in its ongoing battle with another hedge
fund manager, William Ackman.
Under the terms of the deal, Icahn Enterprises LP and related
parties agreed to vote their shares in support of all of the
board's nominees. They also have the right to increase their stake
in Herbalife up to 25%.
Herbalife has been embroiled in a battle with Mr. Ackman, who
holds a large short position, a bet on a share-price decline, and
has raised concerns about the legitimacy of Herbalife's business
model.
Herbalife has called Mr. Ackman's allegations malicious and
accused him of trying to manipulate its stock, a charge he has
denied.
The company in February reported a 12% increase in
fourth-quarter earnings and raised its profit outlook for this
year.
Write to Anna Prior at anna.prior@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires