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Herbalife special committee retains Goldman Sachs

Tue Feb 6, 2007 7:09pm EST

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NEW YORK, Feb 6 (Reuters) - Nutritional supplement maker Herbalife Ltd. (HLF.N) said on Tuesday a special committee of directors -- established to review a proposal received from Whitney V L.P. to acquire Herbalife for $38 per share in cash -- has retained Goldman, Sachs & Co. as its financial advisor.

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Herbalife received the buyout proposal on Feb. 2 from a private equity group led by its chairman for about $2.7 billion.

Los Angeles-based Herbalife said then the offer is from Whitney V LP, which is a fund managed by buyout firm J.H. Whitney & Co. based in Stamford, Connecticut. Peter Castleman, managing director of Whitney V, is chairman of Herbalife.

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