May 2, 2000 |
Rexall Sundown Inc.'s stock shot up 22% after Dutch food group Numico agreed to pay $1.8 billion for the Florida-based maker of vitamins and nutritional supplements. Shares of Rexall rose $4.19 to close at $23.44 on Nasdaq. The deal, valued at $24 a share, is backed by insiders controlling more than 50% of Rexall's shares, said Raymond James & Associates Inc. analyst John Ransom. The acquisition will give Numico the top spot in North America's burgeoning mass-market for vitamins and supplements.
February 3, 2007 |
A private investment group that owns more than a quarter of Herbalife Ltd., the Century City-based direct seller of nutritional and weight-loss supplements, has made a bid for the entire company, Herbalife said Friday. J.H. Whitney & Co., which took Herbalife private in 2002 when it purchased the company with another investor, offered $38 a share in cash this time, valuing the company at $2.7 billion.
September 5, 2013 |
Nutritional products company Herbalife Ltd., battling allegations that it operates an illegal pyramid scheme, has a new and unexpected advocate: former Los Angeles Mayor Antonio Villaraigosa. Villaraigosa, who left office June 30 after eight years as mayor, will serve as a senior advisor to Herbalife Chief Executive Michael O. Johnson and the company's board of directors, the company said Thursday in a news release. Villaraigosa will counsel Herbalife on "strategic business development and global community outreach," the Los Angeles company said.
July 19, 2013 |
Wall Street investors have been standing behind Herbalife Ltd., but the Los Angeles nutritional products maker can't seem to shake questions about its controversial business model. Since hedge fund manager Bill Ackman accused the company in a report in December of operating a pyramid scheme, Herbalife repeatedly has asserted that its multilevel marketing engine is solid and clean. This week, Latino worker groups and public advocacy organizations met with officials from the Federal Trade Commission to ask for an investigation into Herbalife's operations, particularly its handling of its huge network of distributors.
July 31, 2013 |
NEW YORK -- Another Wall Street tycoon has reportedly joined the battle over Herbalife Ltd., the Los Angeles nutritional products maker. George Soros, the legendary investor known for his support of liberal causes, has taken a big bet on Herbalife, according to the financial news network CNBC. Soros has purchased a significant chunk of Herbalife shares, wagering that the company's fortunes will rise, according to the the television station, which cited anonymous sources. A spokesman for Soros declined to comment.
August 8, 1990 |
Rough times don't ruffle Howard Ruff. Fired as president of beleaguered FundAmerica Inc. of Irvine on Monday, Ruff said Tuesday that he is seriously thinking about starting a similar company. "I'm getting a lot of pressure to start a FundAmerica equivalent," he said in an interview. He said there was a "50-50" chance he would actually found a new multilevel marketing company.
May 18, 2000 |
Amway Corp., which built a billion-dollar success story through a friendly neighborhood sales force, announced sweeping job cuts Wednesday, part of a major restructuring to compete in the faceless world of the Internet. The direct-sales giant said it will cut nearly 11% of its global work force, or 1,300 jobs, including positions at its Buena Park operations, a move designed to save $300 million annually.
January 11, 2000
PharmaPrint Inc., trying to build business after its only major customer gave notice of terminating a contract, said Monday that it will try to fend off an attempt to remove its stock from the Nasdaq National Market system. The money-losing Irvine maker of herbal and dietary supplements said in a press release that it has been informed that its financial condition has worsened to the point that it no longer meets Nasdaq criteria for listing its stock on the national market.
March 28, 2001 |
An Arizona company that sells "Internet malls"--Web sites with links to retailers--will pay $5 million back to its customers to settle charges that it operated an illegal pyramid scheme, federal regulators announced Tuesday. Mark and Harry Tahiliani, the proprietors of the Web site called Bigsmart.com, also agreed to post a $500,000 bond before engaging in another similar marketing operation, the Federal Trade Commission said.
October 9, 1994 |
The art world has been taking a few unorthodox steps to bring its message to the masses. Who could have failed to notice Hiro Yamagata's movie premiere-style billboard on Hollywood Boulevard promoting his new automotive installation, "Earthly Paradise," at the Barnsdall Park Municipal Art Gallery?