Herbalife (HLF) Held Advanced Talks with Large PE Firm, Talks May Resume - Source

Herbalife's (NYSE: HLF) disclosed Monday that it was recently in discussions with a prospective financial investor regarding a potential take-private transaction but talks were formally terminated on August 16. Sources familiar with the matter confirmed to StreetInsider that the talks were with a large private-equity firm and talks may resume.

Talks were described as a "long" and "advanced" but it is unclear the price that was being discussed. It is also unclear why talks were terminated.

Shares of Herbalife are up 8% in early trading Monday amid the disclosure and news of a $600 million self-tender at a per share price not less than $60.00 nor greater than $68.00.

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