Activist investor Carl Icahn said he has asked the Federal Trade Commission for the right to purchase up to a 50% stake in nutritional supplement company Herbalife . Icahn made his comments late Tuesday at the Delivering Alpha conference in New York hosted by CNBC and Institutional Investor. Icahn said he has weighed launching a tender offer for Herbalife, which has been the subject of a yearslong bearish bet by rival activist, Bill Ackman, who has characterized the company as a “pyramid scheme.” Shares of Herbalife were up 2.2% in moderate volume in afterhours trade following Icahn’s statement.
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