PEHUB.com:
J.H. Whitney & Co. has withdrawn its $38 per share buyout offer for Herbalife Ltd.
(NYSE: HLF), after the company’s board rejected the bid for being too
low. In a letter to the board, Whitney said it was "surprised and
disappointed that the committee chose not to discuss the proposal with
us or include the company’s distributors in its strategic review
process." Whitney holds approximately 27% of Herbalife’s outstanding
stock. www.herbalife.com
