February 28, 2018 / 2:24 PM / 4 months ago

Herbalife plans stock split, to change name

Feb 28 (Reuters) - Herbalife said it plans to change its corporate name, refinance debt and effect a 2-for-1 stock split as part of initiatives to boost shareholder returns.

Herbalife intends to change its name to 'Herbalife Nutrition Ltd' and is seeking to refinance a portion of its $1.15 billion outstanding convertible notes due Aug. 15, 2019.

The company said it also intends to pursue a "modified Dutch auction" tender offer seeking to purchase between $450 million and up to $650 million of shares of its outstanding common stock. (Reporting by Vibhuti Sharma in Bengaluru Editing by Saumyadeb Chakrabarty)

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