Carl Icahn is asking regulators for the option to up his stake in Herbalife up to 50%.
That would be a huge increase since he is currently limited to 35% of shares. Icahn said he currently owns about 20% of Herbalife’s shares.
Icahn said he is asking the FTC for permission to raise his stake. He also said that Herbalife would be better off as a private company.
He made the comments at the Delivering Alpha conference hosted by CNBC and Institutional Investor on Tuesday.
Herbalife is up 2.5% in after-hours trading after falling 3% earlier during trading hours on Tuesday.
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