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Investor Angling For Clorox

Icahn makes over $10 billion bid for company.

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By: TOM BRANNA

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Investor Carl Icahn offered to buy Clorox for over $10.2 billion in a move designed to draw out other potential buyers, according to reports. As the company’s largest investor with a 9.4% stake, he opted to pay $76.50 a share. Including debt, the transaction values Clorox at about $12.6 billion, said reports.

Clorox rose $6.20, or 9%, to $74.63 today at theNew York Stock Exchange composite trading. The shares earlier climbed as much as 10%, the biggest intraday increase since May 1, 2008.

The company appears in Happi’s Top 50 this month, with estimated sales of $2.6 billion for the year.






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