Billionaire investor Carl Icahn raised his offer to purchase Clorox Co (CLX.N) and offered to put $6.2 billion into escrow to convince the bleach maker's board that he is serious about buying if no one else steps up. In a letter sent to Clorox's board on Wednesday, Icahn raised his bid to $80 per share after Clorox's board unanimously rejected his $76.50 bid as "neither credible nor adequate." His latest bid values Clorox at about $10.66 billion. Icahn, the company's largest shareholder, said that he would put $6.2 billion, including his 12.5 million Clorox shares, in escrow, "to put the question of credibility to rest once and for all."
The Clorox Company (Clorox) is a manufacturer and marketer of consumer and institutional products. Shares of CLX remained unchanged at $72.57. In the past year, the shares have traded as low as $60.56 and as high as $75.10. On average, 1512990 shares of CLX exchange hands on a given day and today's volume is recorded at 659536.
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