Herbalife boosts outlook to account for self-tender share offer
Herbalife Ltd. (HLF) boosted its third-quarter outlook late Monday to account for a self-tender offer of its shares that is scheduled to close on Thursday. The company now forecasts adjusted earnings of 80 cents to 90 cents a share. Analysts surveyed by FactSet had estimated 87 cents a share. In early August, Herbalife forecast third-quarter earnings of 65 cents to 85 cents a share, well below Wall Street estimates at the time (http://www.marketwatch.com/story/shares-of-herbalife-slide-on-weak-third-quarter-outlook-2017-08-01). In late August, Herbalife announced a self-tender offer of $600 million (http://www.marketwatch.com/story/herbalife-shares-surge-8-premarket-after-it-unveils-self-tender-offer-talks-on-going-private-transaction-2017-08-21) in shares, between $60 to $68 a share, designed to help shareholders should the company go private in the next two years. Herbalife shares advanced 0.3% to $67.85 after hours.
-Wallace Witkowski; 415-439-6400; AskNewswires@dowjones.com
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