External reports (aggregated public sources), Value Investors Club

Value Investors Club (VIC)

External reports (aggregated public sources)

Value Investors Club

Equity Bottom-Up

Key points (machine generated)<ul><li>Herbalife is undervalued at 3.8x next year's earnings, with analysts predicting a 70-120% upside in 12-18 months due to improving fundamentals.</li><li>The company operates in 95 markets, offering a diverse range of nutrition and personal care products, with over 80% of sales from international markets.</li><li>Herbalife employs a direct-selling model and has innovated with strategies like Nutrition Clubs and Fit Camps to enhance engagement and adapt to modern compliance standards.</li></ul>This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Key points (machine generated)Herbalife is undervalued at 3.8x next year's earnings, with analysts predicting a 70-120% upside in 12-18 months due to improving fundamentals.The company operates in 95 markets, offering a diverse range of nutrition and personal care products, with over 80% of sales from international markets.Herbalife employs a direct-selling model and has innovated with strategies like Nutrition Clubs and Fit Camps to enhance engagement and adapt to modern compliance standards.This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Herbalife Ltd (HLF) - Sunday, Jul 20, 2025

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>The <a href="https://www.smartkarma.com/entities/best-world-international-ltd" target="_blank" data-smartkarma-citation="entities:4600:1" rel="noopener">Best World International (BEST SP)</a> IFA considers the S$2.56 exit offer fair and reasonable as it is towards the upper end of its S$1.36-2.69 per share valuation range. </li>
<li>The key conditions are approval for the selective capital reduction (at least 75% of eligible shareholders) and delisting resolution (a majority holding not less than 75% in value).</li>
<li>The lack of activists, IFA supporting recommendations, and no competing offer suggest a done deal. At the last close, the gross spread was 2.8%.</li>
</ul>


The Best World International (BEST SP) IFA considers the S$2.56 exit offer fair and reasonable as it is towards the upper end of its S$1.36-2.69 per share valuation range. 
The key conditions are approval for the selective capital reduction (at least 75% of eligible shareholders) and delisting resolution (a majority holding not less than 75% in value).
The lack of activists, IFA supporting recommendations, and no competing offer suggest a done deal. At the last close, the gross spread was 2.8%.


Best World (BEST SP): EGM Vote on 19 July

<ul>
<li>
<a href="https://www.smartkarma.com/entities/best-world-international-ltd" target="_blank" data-smartkarma-citation="entities:4600:1" rel="noopener">Best World International (BEST SP)</a> has disclosed a revised exit offer which has been declared final. The S$2.56 offer is a modest 2.4% premium to the previous S$2.50 offer. </li>
<li>The key conditions are approval for the selective capital reduction (at least 75% of eligible shareholders) and delisting resolution (a majority holding not less than 75% in value).</li>
<li>The revised offer remains underwhelming. However, the headcount test risk is lowering as retail seems resigned to accepting it. At the last close, the gross spread was 2.4%. </li>
</ul>



Best World International (BEST SP) has disclosed a revised exit offer which has been declared final. The S$2.56 offer is a modest 2.4% premium to the previous S$2.50 offer. 
The key conditions are approval for the selective capital reduction (at least 75% of eligible shareholders) and delisting resolution (a majority holding not less than 75% in value).
The revised offer remains underwhelming. However, the headcount test risk is lowering as retail seems resigned to accepting it. At the last close, the gross spread was 2.4%. 


Best World (BEST SP): Best and Final S$2.56 Offer

<ul>
<li>
<a href="https://www.smartkarma.com/entities/best-world-international-ltd" target="_blank" data-smartkarma-citation="entities:4600:1" rel="noopener">Best World International (BEST SP)</a> has disclosed an exit offer through selective capital raising and delisting. The offer of S$2.50 is a 42.9% premium to the undisturbed price of S$1.75. </li>
<li>The key conditions are approval for the selective capital reduction (at least 75% of eligible shareholders) and delisting resolution (a majority holding not less than 75% in value).</li>
<li>The headcount test is a risk. The offer is light as only 66.7% of retained earnings will be distributed and the consideration will be covered 1.6x by the net cash.</li>
</ul>



Best World International (BEST SP) has disclosed an exit offer through selective capital raising and delisting. The offer of S$2.50 is a 42.9% premium to the undisturbed price of S$1.75. 
The key conditions are approval for the selective capital reduction (at least 75% of eligible shareholders) and delisting resolution (a majority holding not less than 75% in value).
The headcount test is a risk. The offer is light as only 66.7% of retained earnings will be distributed and the consideration will be covered 1.6x by the net cash.


Best World (BEST SP): Not the Best Exit Offer

Key points (machine generated)<ul><li>Herbalife's international business is seeing an increase in volume trends, which is expected to result in a return to top-line growth in the current quarter.</li><li>Investors are mainly focused on the 20% of revenue generated from the US market, but there is significant growth potential in the other 80% of the company's international operations.</li><li>Despite the performance of the US market, Herbalife is projected to earn more than $3.00 per share this year and $4.00 per share next year.</li></ul>This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Key points (machine generated)Herbalife's international business is seeing an increase in volume trends, which is expected to result in a return to top-line growth in the current quarter.Investors are mainly focused on the 20% of revenue generated from the US market, but there is significant growth potential in the other 80% of the company's international operations.Despite the performance of the US market, Herbalife is projected to earn more than $3.00 per share this year and $4.00 per share next year.This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

United States

Herbalife Ltd. is a global nutrition company that sells weight management, healthy meals and snacks, sports and fitness, energy and targeted nutritional products as well as personal care products. The Company distributes and sells its products through a network of independent distributors, using the direct selling channel.

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Herbalife Ltd (HLF US)

Herbalife Ltd (HLF) - Sunday, Jul 20, 2025

Herbalife (HLF) is undervalued at 3.8x next year's earnings, with analysts predicting a 70-120% upside in 12-18 months due to improving...

Value Investors Club (VIC)

Best World (BEST SP): EGM Vote on 19 July

The lack of activists, IFA supporting recommendations, and no competing offer suggest a done deal. At the last close, the gross spread was 2.8%.

Arun George

Best World (BEST SP): Best and Final S$2.56 Offer

The revised offer remains underwhelming. However, the headcount test risk is lowering as retail seems resigned to accepting it. At the last close,...

Arun George

Best World (BEST SP): Not the Best Exit Offer

The vote is a risk. The offer is light as only 66.7% of retained earnings will be distributed, and the consideration will be covered by 1.6x of the...

Arun George

Herbalife (HLF) - Sunday, Oct 15, 2023

Herbalife's international business is seeing an increase in volume trends, which is expected to result in a return to top-line growth in the...

Value Investors Club (VIC)

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