Billionaire investor Carl Icahn said on Tuesday he would backstop any auction of Clorox Co (CLX.N) with a $10.26 billion bid if his slate of nominees were elected to the board of the bleach maker. Icahn earlier offered to purchase the company for $10.52 billion, but Clorox rejected his overture as not credible, questioning whether he had the financing to fund a purchase. Icahn said he would fund at least half the purchase price in cash and the rest through bonds. Earlier, he said he had a "highly confident" letter of financing from Jefferies Group Inc (JEF.N), which Clorox rejected.
The Clorox Company (Clorox) is a manufacturer and marketer of consumer and institutional products. Shares of CLX traded higher by 3.1% or $2.13/share to $70.76. In the past year, the shares have traded as low as $60.56 and as high as $75.44. On average, 1910560 shares of CLX exchange hands on a given day and today's volume is recorded at 3834311.
Jefferies Group, Inc. and its subsidiaries operate as securities and investment banking firm. Shares of JEF fell by 3.62% or $-0.611/share to $16.25. In the past year, the shares have traded as low as $14.33 and as high as $27.12. On average, 1640670 shares of JEF exchange hands on a given day and today's volume is recorded at 811825.
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