Herbalife Ltd. Buys Back $266M In Shares From Bank Of America

Herbalife Ltd. (NYSE:HLF) has announced a deal to buy back $266 million worth of its own shares from Bank of America Corp (NYSE:BAC), following a previous decision to cancel dividends in favor of a more robust stock buyback program that was made public when the nutrition company filed its 1Q14 earnings. Herbalife stock gets a boost from buyback deal “Our strong financial position and the current market valuation of our shares make the repurchasing of our stock the most attractive use of our capital,” said Herbalife chairman and CEO Michael Johnson in a press release. “As we have long demonstrated, Herbalife…