Carl Icahn sells over half his Herbalife stake for $600 million – WSJ

FILE PHOTO: An Herbalife logo is shown on a poster at a clinic in the Mission District in San Francisco, California April 29, 2013. REUTERS/Robert Galbraith

(Reuters) – Carl Icahn has sold more than half his stake in Herbalife Nutrition Ltd for $600 million and is planning to give up the five seats on the board held by his representatives, the Wall Street Journal reported on Sunday.

Icahn, who had a 16% stake in Herbalife, sold about 10% back to the company in recent days, the newspaper reported, citing people familiar with the matter.

That has left him with a roughly 6% stake, worth $400 million, in the multi-level marketing company, whose products include dietary supplements, according to the report

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