Icahn sold nearly 3.6 million Hain shares to investment bank Jefferies Group LLC, which can sell the shares on the market. Hain won’t see any money from the transaction. Icahn first took a stake in Hain during the first quarter of 2010. Icahn had lowered his stake in Hain by about half earlier this month. Hain’s board contains two member that were recommended by Icahn: Brett Icahn, his son, and David Schechter, one of Icahn’s investment partners, reports The Wall Street Journal.
“Carl Icahn and his affiliates have been good shareholders,” Mary Celeste Anthes, Hain spokeswoman, told Newsday. “We welcome our new shareholders for Hain’s next level of growth.”