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Carl Icahn wants to up Herbalife stake to 50%

Herbalife finally settles with the FTC

Legendary billionaire investor Carl Icahn wants to more than double his investment in the controversial nutritional supplements firm Herbalife.

Currently, Icahn's company, Icahn Associates Holding LLC, owns 21% of Herbalife's outstanding shares and he has permission from his company to buy up to 35%. He announced Tuesday that he wants to increase that stake to 50%.

Herbalife's stock was up about 2% in after-hours trading, but it wasn't immediately clear if Icahn's...