Herbalife International
This article was originally published in The Tan Sheet
Executive Summary
Company announces Jan. 10 it has reached a tentative settlement with plaintiffs opposed to the buy-out proposal of CEO Mark Hughes. In September, Hughes declared his intention to acquire all the shares of Herbalife for $17 each (1"The Tan Sheet" Sept. 20, 1999, p. 15). Under the settlement, the tender offer will be raised to $17.81 per share. The plaintiffs, which generally include Herbalife's public shareholders and holders of securities issued by DECS Trust III, have until Jan. 28 to pull out of the agreement