Herbalife announces final results of self-tender offer
Herbalife announced the final results of its "modified Dutch auction" tender offer, which expired at 5:00 P.M., New York City time, on Thursday, October 5 to purchase for cash up to an aggregate of $600M of the company's common shares at a per share price not less than $60.00 nor greater than $68.00, plus a non-transferable contractual contingent value right for each share tendered, allowing participants in the tender offer to receive a contingent cash payment should Herbalife be acquired in a going-private transaction within two years of the commencement of the tender offer. Based on the final count by Computershare Trust Company, N.A., the Depositary for the tender offer, a total of 6,732,300 common shares of the company were properly tendered and not properly withdrawn at or below the final cash purchase price of $68.00 per share. Accordingly, the company accepted for purchase 6,732,300 common shares of the Company at a cash purchase price of $68.00 plus a CVR per share, for a total cash cost of approximately $457.8M, excluding fees and expenses relating to the tender offer. These common shares represent approximately 7.2% of the company's total outstanding shares as of October 9.