Herbalife Shares Down After Report that Carl Icahn Wants Out

Shares of Herbalife Ltd. (NYSE: HLF) are down Friday after a report claiming that Carl Icahn, the company’s largest and most defensive shareholder, wants out, and there might be a buyer.

The famous investment bank Jefferies Group LLC, reportedly has been looking for potential buyers of Carl Icahn’s 18% stake in Herbalife, which is valued at about $1 billion.

It is not clear at the moment what the status of the potential sale is. It is reported that Icahn may actually sell nothing.

What is interesting is that Carl Icahn discussed the possibility of selling his shares in a group which included William Ackman, who for years claimed that Herbalife is nothing but pyramid scheme. Ackman has a huge short position on the stock, on which he will make some profits if the stock falls by approximately half. 

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