On Friday, it was announced that Carl Icahn started exiting part of his stake in Herbalife (HLF). The first part of his exit came as he tendered over 10 million shares in the company‘s most recent tender offer, reportedly netting him over $550 million. In a podcast that I put out last week, Matt Stewart and I discussed possible ways for Icahn to sell his stake in the company. Also, previously, I had written an article here on Seeking Alpha guessing that Carl maybe tendering some of the shares back to the company as part of his exit plan.

Carl still owns over 20 million shares of the company and now that the market has been notified of his intent to exit, one would have to think that the rest of his exit would have to be timely in nature. While the stock traded almost 6,000,000 shares on Friday on the news, Mr. Icahn still probably couldn’t blow out the rest of his position on the open market if he wanted to.

READ FULL ARTICLE HERE