Investing.com - Herbalife LTD (NYSE:HLF) shares were climbing on Monday, boosted by news of the company's plan to repurchase about $600 million worth of its ordinary shares and that the company was engaged in buyout conversations.
Shares will be repurchased for between $60 and $68 a share. When the company announced the buyback, it stated: "Our Board and management team are committed to enhancing shareholder value and we believe today's action is just one more step in meeting this goal."
The company also announced that it recently ended takes with “a prospective financial investor,” who was seeking to take the company private. The takeover discussions were terminated on August 16.
Herbalife's shares were recently up 9%.