Herbalife (HLF) Is Conserving its Stock Buyback Bullets in Ackman Fight - FBN
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FOX Business Network (FBN) Senior Correspondent Charlie Gasparino reported that while Bill Ackman short target Herbalife (NYSE: HLF) has implemented its stock buyback plan, it is taking a slow, "measured approach" due to its belief that they are in for a "long battle" with the hedge fund manager.
"Here's what we know guys, bottom line is that investors in Herbalife have been pounding the company, demanding a more aggressive buyback program," Gasparino reported. "What we do know is that since the January 17th announcement that they have a billion dollar worth of buyback authority, Herbalife has been in the market buying back shares. It is a lot less aggressive then what investors want and the reason why, at least according to people close to the company, they're telling the FOX Business Network is that they believe they are in a long battle with Ackman, they just don’t want to do it all at once. They think they’re going to fight it out for years."
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"Here's what we know guys, bottom line is that investors in Herbalife have been pounding the company, demanding a more aggressive buyback program," Gasparino reported. "What we do know is that since the January 17th announcement that they have a billion dollar worth of buyback authority, Herbalife has been in the market buying back shares. It is a lot less aggressive then what investors want and the reason why, at least according to people close to the company, they're telling the FOX Business Network is that they believe they are in a long battle with Ackman, they just don’t want to do it all at once. They think they’re going to fight it out for years."
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