Herbalife Ltd., the nutrition company hedge fund manager BillAckman has accused of being a pyramid scheme, boosted its sharebuyback by 50 percent to $1.5 billion and announced a $1 billionsale of convertible bonds.
Fourth-quarter earnings were probably $1.26 to $1.30 a sharebased on preliminary results, excluding some items, the companyalso said today. Analysts predicted $1.16, the average of estimatescompiled by Bloomberg. Sales rose about 20 percent.
Herbalife is rewarding shareholders after new auditorPricewaterhouseCoopers LP's examination of its books gave thecompany a clean bill of health, clearing the way for additionalborrowings to fund stock buybacks. The company's business also hasbeen growing, with 2013 marking the fourth straight year of salesgains greater than 15 percent.
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